Earlier in January 2023, the newspaper Schweiz am Wochenende alleged repeated communication took place between a member of Switzerland’s interior ministry and the media group Ringier during the Covid pandemic. Since then accusations have been directed at Alain Berset, the minister in charge of the department, reported RTS. The information allegedly shared allowed the newspaper […]
Retirement at 68.2 to cover Swiss pension shortfall, says UBS
Swiss resident’s are regularly reminded of the large financial gap is Switzerland’s state pension system. Despite this, several attempts at reform have failed to gain sufficient support. Those that have still leave a large shortfall. On 24 January 2023, UBS published four additional reform scenarios. Only the fourth, with a life expectancy adjusted retirement age […]
Swiss government aims to cut 2 billion from 2024 budget
Like many governments across the world, Switzerland’s federal government is spending more than it collects. Extraordinary spending on Covid and refugees has pushed Switzerland’s finances into the red, a situation Karin Keller-Sutter, the current finance minister, hopes to eliminate by 2024. During its meeting on 25 January 2023, the Federal Council made preliminary decisions to […]
Public funding of WEF security angers critics
The World Economic Forum (WEF), an exclusive gathering of wealthy folks dropping in on private jets is viewed by many as out of touch with the key challenges currently faced by the global population. Swiss critics of the event are angered that an event closed to the public is provided with publicly funded security, reported […]
Referendum against Swiss climate change programme to test environment minister
This week, the Swiss People’s Party (UDC/SVP) announced it had collected enough signatures to launch a referendum to reject the government’s plan for reducing carbon emissions. The initiative puts Albert Rösti, Switzerland’s new environment minister, in a difficult position as a member of the party behind the future vote. On 9 January 2023, the party […]
Cantons caught short by Swiss National Bank losses
On 9 January 2023, the Swiss National Bank (SNB) announced it had made a loss of CHF 132 billion over the course of 2022. Despite the near certainty of the losses and the resulting absence of SNB payments to cantons, a number of cantons included the extra revenue in their budgets, reported RTS. The SNB […]
Swiss Federal Council’s theme and photo for 2023
Every year, Switzerland’s Federal Council publishes a photograph reflecting the theme for the year. This year’s theme is working well together despite differing points of view. Federal Councillor Alain Berset, this year’s president, wants the picture taken by Vaud photographer Matthieu Gafsou to show that the members of the Federal Council can work well together […]
Switzerland’s president in 2023
This week, Switzerland’s Federal Assembly elected Alain Berset as president in 2023, reported RTS. On 7 December 2022, Berset was elected when 140 out of a total of 181 valid votes were cast in his favour. Every year the Federal Assembly, which is made up of Switzerland’s parliament (National Council) and Council of States (upper […]
Swiss cantons to get most of extra company tax money
On 12 January 2022, Switzerland’s Federal Council decided to implement the minimum tax rate for companies that was agreed by the OECD and G20 member states in 2021. The 15% minimum tax, which will be applied to large companies from 1 January 2024, will generate extra tax revenue. This week, after a degree of wrangling, […]
Switzerland gets two new cabinet members
2022 brought the resignation of two members of Switzerland’s Federal Council, the nation’s seven member executive of cabinet who are elected for life. As the year comes to a close two replacements have been selected. First to resign was Ueli Maurer, Switzerland’s minister of finance, who announced his plan to step down on 30 September […]
