Four times a year the rate of interest used to set the rents in Switzerland is reviewed. If the aggregate average mortgage rate goes down some renters can request lower rent. If it goes up some landlords can raise rents. This time the rate rose from 1.25% to 1.50%. Higher rents are likely to follow. […]
Job growth continues in Switzerland
Figures published by Switzerland’s Federal Statistical Office (FSO) on 26 May 2023 show continued growth in the number of jobs in Switzerland. At the end of the first quarter of 2023, total employment was 2.2% higher than a year earlier and 0.6% higher than at the end of 2022. Companies in Switzerland reported a total […]
Price of generic drugs close to double in Switzerland
On 17 May 2023, Interpharma and Santésuisse published their annual report showing drug price comparisons across Europe. The good news is the drug price gap between Switzerland and its neighbours has narrowed. The extra paid for on-patent drugs in Switzerland is now 5.4% on average. However, the price premium paid for generic (+45.5%) and biosimilar […]
Proposal for budget Swiss health insurance
Last weekend, the PLR/FDP unveiled a plan to create a budget low cost health insurance option in Switzerland, reported RTS. The proposal, which includes lower cost ways of delivering healthcare, will be presented to parliament next month. Examples of ways to lower costs include limiting the choice of hospital and sharing hospital rooms with more […]
Switzerland needs to be able to recharge 2.8 million vehicles
This week, the Swiss Federal Office of Energy (SFOE) published its predictions and ambitions for electric transport infrastructure. By 2035, SFOE expects more than half of all passenger cars in Switzerland to be electric. This means the country has around 12 years to complete its charging infrastructure, it said. The SFOE study estimates there will […]
One day off work costs Switzerland 350 million francs
Last week, Switzerland’s federal parliament voted in favour of adding an annual public holiday to celebrate democracy. This week, the State Secretariat for Economic Affairs (SECO), said the extra day off would cost the economy CHF 350 million, reported RTS. The CHF 350 million sum was calculated by comparing the GDP in years when Christmas […]
Switzerland’s cantons make bigger than expected profits in 2022
In 2022, together, Switzerland’s cantons were expected to spend CHF 1.1 billion more than they brought in from taxes. Instead, they made a collective profit of CHF 3.5 billion, a positive delta of CHF 4.6 billion, reported RTS. Switzerland collects tax at three levels: municipal, cantonal and federal. Cantonal taxes are typically the largest slice. […]
Swiss parliament votes for tough new banking rules
Many Swiss politicians and members of the public remain angry about the recent rushed government deal to head off the potential collapse of Credit Suisse. This week a majority of the National Council, Switzerland’s federal parliament, voted in favour of measures to reduce the risk systemic big banks pose to taxpayers, reported RTS. Spearheaded by […]
1 in 20 suffer material deprivation in Switzerland
On 2 May 2023, Switzerland’s Federal Statistical Office published its annual report on income, poverty and living conditions. In 2021, 448,000 people, 5.2% of the population, refrained from buying goods, services and social activities for financial reasons, something described as material and social deprivation. And Switzerland’s poverty rate was 8.7%. At the same time, the […]
Swiss inflation flat in April
Data published this week by Switzerland’s Federal Statistical Office (FSO) show no monthly inflation in April 2023. No inflation in April shifted annual inflation from 2.9% in March to 2.6% in April 2023 as the monthly rise in prices in April 2022 fell out of the annual calculation to be replaced by zero monthly inflation […]
