The number of tenancy disputes in Switzerland jumped 42% in the first half of 2023 compared to the second half of 2022, reported the government this week. Across Switzerland a total of 17,519 tenancy or lease arbitration proceedings were initiated between January and June 2023. The rising number of disputes follows rent hikes, often triggered […]
Swiss government launches plan to stop rising rents
Switzerland, where only 36% of the population own their homes, is sometimes referred to as a nation of renters. So when rents rise, as they have recently, the subject becomes political. On Wednesday, Switzerland’s Federal Council announced that it was looking for ways to temper short term rent increases. Across Switzerland, 64% of the population […]
Cross-border shopping – Swiss government intends to cut tax free allowance
This week, the newspaper Tages-Anzeiger reported that Switzerland’s federal government is working on reducing the tax free allowance granted to people returning home from a shopping trip abroad. The amount is currently CHF 300 per person per day. The government is looking at cutting this allowance to CHF 150 per person per day, according to […]
Swiss pay rises won’t keep up with inflation in 2024
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 […]