Switzerland’s health system is under strain. New drugs and treatments combined with an ageing population, along with cost inflation are the main drivers. This week, KPMG published a report quantifying the hole in Switzerland’s hospital finances. Only 30% (14) of the 48 hospitals and clinics surveyed reported generating a profit. The other 70% were running […]
Calls to end bank secrecy for Swiss residents
Under international pressure, Switzerland removed banking secrecy for foreign residents in 2009. However, laws ensuring bank secrecy for residents of Switzerland remain. Some politicians are now calling for the removal of all banking secrecy laws in the hope that it will increase tax revenue, reported RTS. With Switzerland’s federal government budget in the red politicians […]
Swiss politicians discuss making patients pay larger share of medical bills
Switzerland’s system of compulsory health insurance already requires patients to pay a portion of medical bills in addition to paying premiums. To stem the rise in premiums, an old idea has resurfaced: make patients pay an even greater share of their medical costs. This week, some political parties voiced support for a higher minimum deductible, […]
Swiss electricity prices set to fall in 2025
The price of electricity is set to fall in 2025 according to a survey run by the Swiss Electricity Suppliers Association, reported RTS. As many as 75 out of 83 suppliers surveyed said they definitely or probably expect price cuts next year. Price data from 52 companies generating more than a third of Switzerland’s electricity […]
Swiss trade unions argue against pension reform
On 22 September 2024, Swiss voters will decide whether or not to accept the latest round of government reforms to employee based pensions known as the second pillar pensions. Swiss trade unions are against the reform, which reduces the annuity rate from 6.8% to 6.0%. Instead they are calling for a higher rate to compensate […]
Swiss housing crisis squeezing those on low incomes
Switzerland’s housing crisis is pushing low income earners into poverty, warned Caritas this week. According to the charity, high rents are pushing some low income earners into poverty. An acute shortage of housing is pushing rents beyond the level that some people can afford, forcing them to cut back on spending in other areas, said […]
Switzerland’s birth rate continues to fall
The number of babies born in Switzerland fell to 80,024 in 2023, a birth rate of 1.33 per woman, reported RTS. As recently as 2021, 89,644 babies entered the world in Switzerland. Between 2021 and 2023, the number has fallen nearly 11%. In 2023, the fertility rate in Switzerland reached an historic low after trending […]
Swiss TV and radio licence fee to be cut
This week, Switzerland’s Federal Council decided to cut CHF 35 off the compulsory annual fee households must pay for public television and radio. The fee will fall from CHF 335 to CHF 300 by 2029, reported RTS. The fee reduction will happen gradually, falling to CHF 312 in 2027 and then to CHF 300 in […]
Swiss National Bank cuts interest rate
On 20 June 2024, the Swiss National Bank (SNB) lowered its key interest rate by 0.25% to 1.25%. According to Thomas Jordan, the head of the SNB, inflationary pressure has receded somewhat. The Swiss franc has recently appreciated against the Euro, reducing the price of imported good and services. If the franc appreciates it dampens […]
Nearly all French-speaking cantons to receive support from the others
Swiss cantons have very different tax bases, tax rates and spending. Until 2008, all cantonal taxes remained within cantons. Since then rich cantons have been required to support poor ones via the national financial equalisation mechanism. Next year, every French-speaking canton, with the exception of Geneva, will receive a financial boost from their wealthier German-speaking […]
