After two increases in a row the reference interest rate used for adjusting rents remains unchanged this quarter. After two rises from 1.25% to 1.75% last year, many tenants in Switzerland will be breathing a sigh of relief. Many economists forecast no increases in the rate this year. Every quarter the rate of interest used […]
Switzerland’s marriage tax penalty back in the spotlight
Married couples in Switzerland are taxed together, unlike unmarried couples who are taxed individually. This often acts as a tax disincentive for one spouse to work, disproportionately affecting women. For many years, certain political parties have been pushing to remove what is essentially discrimination on the basis of marital status. The issue came back into […]
More than 17,000 drivers fined in a month on one Zurich street
At the end of September 2023, driving was banned on a 60 metre section of Langstrasse in Zurich. To enforce the ban, cameras were later set up on 8 January 2024 to catch and fine errant drivers. Since then 17,310 fines have been issued. The driving ban, which excludes buses, was introduced to make the […]
Higher Swiss pensions – voter support narrows
Support for the popular initiative to boost state pensions by 1/13 narrowed from 61% to 53% between 14 January and 10 February, according to a poll published by RTS. Voting intentions vary significantly by age. In the latest poll, people under 40 were most against it (55%), possibly because they know they will probably need […]
Swiss government deficit larger than predicted
The federal government spent less in 2023 than budgeted but overestimated revenue. The net effect was an additional unexpected shortfall of CHF 1.4 billion, reported SRF. At a media conference this week, finance Minister Karin Keller-Sutter said that the Federal Council was not aiming to raise a taxes to fund the additional shortfall. Raising taxes […]
Swiss inflation drops to 1.3%
Over the 12 months to the end of January 2024, annual inflation in Switzerland fell from 3.4% to 1.3%. The latest rate is 0.4 percentage points lower than a month earlier – it was 1.7% at the end of December 2023. At the same time, on a monthly basis, inflation rose from 0% in December […]
Swiss unemployment rises more than expected
The number of people unemployed in Switzerland rose by more than most economists expected in January 2024. The rate at the end of January rose to 2.5%, up from 2.3% at the end of 2023, reported the State Secretariat for Economic Affairs (SECO). A group of economists predicted it would be between 2.2% to 2.5%, […]
Swiss prefer to holiday close to home
Passing through a Swiss airport during peak holiday season might give an impression Swiss like holiday in far away places. However, a survey by the Swiss Bankers, a company that provides holiday related financial services, shows most like to stay close to home. In 2023, 25.9% of total holiday spending was made in Switzerland, followed […]
Issues concerning the Swiss most in 2023
This week, a survey was published setting out issues of greatest concern to the Swiss public. The five biggest issues cited by the Swiss population are of a monetary nature. Economic concerns haverisen, leaving issues such as climate change in sixth place. The top concern is healthcare costs and health insurance premiums. 41.8% were worried […]
Swiss pension finances – the unavoidable numerical reality
Swiss state pensions have been in the news a lot recently. VAT increased on 1 January 2024 to help fund them, and two referenda on the subject are set for voting on 3 March 2024. This week, RTS published an article setting out the mathematical reality of Switzerland’s pension finances. Pensions in Switzerland, like in […]
