Overall, in 2021, Swiss salaries shrunk by 0.2% in nominal terms and by 0.8% in real terms, given an annual rate of inflation of 0.6% across the year, reported the Federal Statistical Office (FSO) this week. However, when broken down, women saw an overall increase in pay of 0.6% while men on average saw pay […]
Swiss government changes solar electricity rules
On 2 June 2022, Switzerland’s parliament adopted two motions to accelerate the adoption of solar panels. The first motion aimed to allow private individuals to earn better returns on the electricity they produce. Under the proposal they would be able to sell electricity to other individuals, municipalities and cantons without paying heavy network charges. 140 […]
Swiss government to ease personal bankruptcy rules
Rules related to personal bankruptcy in Switzerland are tough compared to many countries. In effect, they give heavily indebted individuals breathing space rather than a clean slate. This week, Switzerland’s government put forward a plan to soften the rules. To initiate personal bankruptcy proceedings (technically insolvency proceedings) in Switzerland requires funds of around CHF 5,000 […]
Swiss unemployment drops sharply in first quarter of 2022
During the first quarter of 2022 the number of people employed in Switzerland rose by 1.7% and the unemployment rate, as defined by the International Labor Organisation (ILO) fell from 5.8% to 4.6%. In addition, the average number of hours worked by those employed rose by 2.8%. The overall rate of unemployment in Switzerland by […]
Swiss inflation rises further in May 2022
On 2 June 2022, Switzerland’s Federal Statistical Office (FSO) published May inflation data, which show prices 2.9% higher than one year ago. Switzerland’s consumer price index (CPI) increased by 0.7% in May 2022 compared with the previous month. Inflation was +2.9% compared with the same month of the previous year. Inflation in Switzerland is currently […]
Migros launches 10% deposit home loans in Switzerland
Buying a home in Switzerland is difficult. Homes are expensive and lending is typically restricted to those with a 20% deposit and significant income. Migros Bank, an offshoot of the Swiss supermarket, recently launched a product that reduces the deposit requirement to 10%. Migros bank has launched the new product under the brand Cactous. According […]
Taxes to fall in the canton of Vaud
A recent political shift following cantonal elections in March 2022 has led to lower personal taxes in the canton starting in 2023, reported 20 Minutes. The canton of Vaud has one of Switzerland’s highest personal tax burdens. In 2018, a couple with two children earning CHF 150,000 paid more than three times as much tax […]
Electricity prices set to jump next year in Switzerland
As the prices of the fossil fuels used to produce electricity across Europe rise so must the price of electricity. According to the Association of Swiss Electricity Companies (AES), record market prices mean that a majority of electrical supply companies will have to charge their customers higher prices in 2023. A survey run by the […]
Federal government aims to make Swiss childcare cheaper
Switzerland has the world’s fourth most expensive childcare according to UNICEF. The federal government is working on a package of financial subsidies costing CHF 530 million a year to reduce the cost to parents, reported RTS. A 2021 UNCEF study of childcare in rich nations ranks Switzerland as having the fourth most unaffordable childcare, a […]
Health premiums to rise 5% says Swiss price comparison website
According to the price comparison website Comparis.ch obligatory Swiss health insurance premiums are set to rise by an average of 5% in 2023, in some cases as much as 10%. Key drivers of the rise are the impact of the pandemic and pressure by the federal government on insurance companies to refund reserves to policy […]
