A report by UBS predicts average Swiss salary growth of 1.9% in 2024, set against expected inflation of 2%. If correct, real pay will be slightly lower by year end than it was at the start of the year. The bank said that rising health insurance premiums will mean many workers face a loss of […]
Swiss government wants to cut broadcasting fee
Switzerland, like the UK, charges households an essentially unavoidable broadcasting fee. The money raised is used to fund public news and entertainment. However, the fee is divisive. Some view it as a necessity to ensure the public is well informed. Others see its unavoidable nature as an affront to personal liberty. A public vote to […]
Electric vehicles to be taxed next year in Switzerland
From 1 January 2024, electric vehicles (EV) will be taxed like their petrol and diesel equivalents, announced Switzerland’s Federal Council this week, reported RTS. Cars imported into Switzerland suffer a 4% tax. EVs are currently exempted from this tax. From the beginning of next year all cars including EVs will be taxed. The exemption, introduced […]
Price cuts on 350 medicines in Switzerland
With the ever rising cost of of Swiss healthcare, the government has been hunting for savings. This week it announced that it has ordered price cuts on 350 medicines from 1 December 2023, reported RTS. On average the drugs on the list will cost 10% less and deliver an overall expected saving of CHF 120 […]
Swiss occupational pensions to feel squeeze from higher rate
Switzerland’s occupational pensions, known as the 2nd pillar, are feeling the squeeze of lackluster returns and an aging population. This week, the government added to the strain by setting the minimum rate pension managers must pay pension holders at 1.25% for 2024, a 0.25 percentage point rise over last year, reported RTS. Inevitably, the announcement […]
Swiss inflation returns in October
Consumer prices increased by 0.1% in October 2023, reported Switzerland’s Federal Statistical Office (FSO) this week. Rising prices in October represent a reversal of the 0.1% fall in September 2023. October’s rise in inflation kept the annual rate of inflation at 1.7%, 0.3 percentage points below the Swiss National Bank’s (SNB) preferred maximum of 2% […]
Switzerland increases federal spending forecast
Every quarter, Switzerland publishes updated spending forecasts for the current year. On 25 October 2023, it raised the 2023 spending forecast by CHF 300 million to 81.6 billion, an increase of 0.4% on the previous quarter, but still below the original budget. The revision takes the ordinary budget deficit from an original CHF -700 million […]
Switzerland breaks donation record in 2022
Total donations made in Switzerland reached CHF 2.5 billion in 2022, a record according to Zewo, an auditor of charities. The record figure was partly driven by the CHF 418 million donated to Ukraine. The CHF 2.5 billion donated in 2022 was 22% higher than the total in 2021 and 38% than the total in […]
Swiss train fares hike due to government pressure reveal documents
Train and other public transport fares in Switzerland are set to rise 3.7% on average from 10 December 2023. This week it was revealed that the hike was pushed by the federal government, reported Swiss broadcaster SRF. The decision to increase fares came after the federal government put pressure on Swiss Rail to push the […]
Rent disputes multiply in French-speaking Switzerland
The costs of mortgages and building maintenance are rising. Rents are following. In French-speaking Switzerland tenant arbitration organisations are receiving a deluge of complaints and requests for help from tenants, reported RTS. In Switzerland, it is common for rental agreements to contain a clause that allows rents to be adjusted up or down based on […]
