Switzerland faces a potential gas shortage next winter, warns Switzerland’s Federal Council. Reduced consumption or rationing cannot be ruled out, it warns. At a press conference in Bern on Wednesday, economy minister Guy Parmelin said that there is a very real risk of a gas shortage over winter, reported RTS. Around three quarters of the […]
Swiss Franc worth more than a Euro
This week, the Swiss franc rose to beyond parity with the euro as traders sought safe haven assets as concerns about risks to global growth grew. The Euro-Swiss Franc pair fell below 1.00 franc per euro during the morning of 29 June 2022 and remained below 1.00 until the morning of 1 July 2022 when […]
Concert tickets up to 77% more expensive in Switzerland
A survey found that the Swiss pay far more for concert tickets that their European neighbours. And the differences are significant, with Swiss price premiums ranging from 40% to 77% depending on the performer, reports RTS. According to Bon à Savoir, the consumer association behind the survey, there are many examples of inflated Swiss concert […]
Finance minister thinks Switzerland needs to cut public spending
Ueli Maurer, Switzerland’s finance minister, is concerned about Switzerland’s finances after a recent round of decisions to substantially increase public spending. During June 2022, Switzerland’s parliament agreed to significant increases to spending on the army, healthcare and the environment. The situation is not sustainable Maurer told SRF. In June, parliament agreed to boost military spending […]
Higher federal tax deductions for health insurance announced
The cost of Swiss health insurance has risen sharply over the years. However, the amount that can be deducted from income to calculate federal taxes has remained comparatively low. This week, Switzerland’s parliament voted in favour of closing the gap between the standardised health insurance tax deductions and what people actually pay, reported RTS. The […]
Psychotherapy to be covered by basic Swiss health insurance
From 1 July 2022, psychotherapy provided by trained psychologists will be reimbursed under Switzerland’s basic compulsory health insurance, reported RTS. To qualify for reimbursement the service will need to be prescribed by a doctor and meet certain conditions. Prices for the service have not been set. The federal government and cantons still need to work […]
No tax cuts on fuel in Switzerland
This week, Switzerland’s upper house rejected proposals to cut the tax on fuel to counteract the impact of sharp price rises, reported RTS. Neighbours France, Germany, Italy and Austria have all cut the tax on fuel. But Switzerland hasn’t. The Swiss People’s Party (UDC/SVP) has been pushing for one, arguing that its justified by the […]
Migros to stay alcohol free after clear no vote
On 16 June 2022, the Swiss supermarket Migros announced that its members had voted in favour of maintaining a ban on the sale of alcohol in its stores, restaurants and takeaway outlets across all 10 of its regional cooperatives. With record voter participation of more than 630,000 members (29%) – members were offered free chocolate […]
Swiss central bank surprises market with interest rate hike
On 16 June 2022, the Swiss National Bank (SNB) surprised markets with a 50 basis point rise to its policy rate. The move marks the first time Switzerland’s central bank has raised rates since 2007. Aimed at taming inflation, the announcement led to a 2% jump in value of the Swiss franc against the Euro […]
Switzerland adopts latest round of EU sanctions against Russia
On 10 June 2022, Switzerland’s government adopted the latest set of EU sanctions against Russia and Belarus, including an embargo on crude oil and certain refined petroleum imports from Russia. The sanctions are the sixth package and were adopted by the EU on 3 June 2022. An embargo on oil imports from Russia by sea […]
