Over the weekend, a majority of voters in the canton of Basel-City voted in favour of a minimum wage of CHF 21 (US$ 23) an hour. The move will make Basel-City the first German-speaking Swiss canton to adopt a minimum wage, following in the footsteps of Geneva, Neuchâtel, Jura and Ticino. Until fairly recently Switzerland […]
Swiss to vote on CO2 taxes. How much could it cost?
On 13 June 2021, Swiss voters will decide on whether to accept a government plan to raise taxes on certain high emission activities, which include additional taxes on heating oil, flights and petrol and diesel for road use. The aim of the revised law is to change behaviour and reduce Switzerland’s emissions. The amount that […]
Swiss parliament votes to raise retirement age for women
This week, Switzerland’s parliament voted in favour of raising the official retirement age for women. In Switzerland, the retirement age for women has long been 64, one year less than the retirement age of 65 for men, according to RTS. The parliamentary vote, of 124 versus 69 in favour, follows a vote in the upper […]
Swiss unemployment continues to fall in May
By the end of May 2021, the percentage of Switzerland’s workforce registered as out of work had fallen to 3.1%, down from 3.3% in April 2021. The figures are based on those registered as unemployed at regional employment centres and exclude many of those that have been out of for more than two years and […]
Drugs in Switzerland more expensive than ever compared to Europe
A recent study by Interpharma and Santésuisse shows how rapidly drug prices have risen in Switzerland over the 10 years to 2020. Between 2010 and 2020, medicine prices have risen by nearly 37% in Switzerland. In addition, the cost of basic health insurance has risen at 3 times the rate of GDP over the same […]
Switzerland: great quality of life at considerable cost
A recent survey of expats presents Switzerland as a double edged sword. The survey, which covers 59 nations, ranks Switzerland near the top on quality of life but near the bottom on cost. In the ranking by InterNations, Switzerland is listed 30 out of 59 countries overall for its attractiveness to expats. However, its score […]
Swiss consumer sentiment nearly back to pre-crisis level
Consumer sentiment among Swiss households is improving, according to Switzerland’s economic affairs office (SECO). In April 2021, the consumer sentiment index climbed back to -7 points after reaching a low of -40 in early 2020. The level of -7 is close to the pre-crisis level of early 2020 and close to its long term average […]
Short expiry notice for Swiss banknotes sparks criticism
Last Wednesday, the Swiss National Bank (SNB) announced that old Swiss banknotes would no longer be legal tender from Friday, 30 April 2021. The short notice period has generated complaints and confusion. The eighth series of Swiss banknotes did not lose their value, however, they are no longer an accepted means of exchange. The only […]
Real Swiss salaries up most in 5 years
On 30 April 2021, Switzerland’s Federal Statistical Office released salary data for 2020 which showed a 1.5% rise in real salaries compared to 2019. In 2020, a 0.8% rise in nominal salaries was boosted by inflation of -0.7% bringing the total increase in the real average Swiss salary to 1.5%. The last time salaries rose […]
Old Swiss money no longer valid from Friday
From Friday 30 April 2021, old Swiss bank notes will no longer be legal tender. This means they can no longer be used as a valid means of payment. The notes affected are old 10, 20, 50, 100, 200 and 1,000 Swiss franc notes from the eight series pictured above. From 30 April 2021, the […]
