le News

Switzerland came second in this year’s World Digital Competitive Ranking, which ranks 67 nations across the world. Photo by Tima Miroshnichenko on Pexels.comThe 2024 World Digital Competitiveness Ranking, produced annually by IMD, placed Singapore at the top, followed by Switzerland and Denmark. This year’s ranking is the highest for Switzerland over the eight years that the report has been published. Switzerland progressed significantly in high-tech exports (9th), e-participation...

In 2025, many wage earners will see their pay rise. However, the increases may not be sufficient to cover the rising costs, rising health insurance premiums in particular. Who will receive more pay next year? Migros and Coop, Switzerland’s two largest private employers have announced pay increases of 1% to 1.3%, reported SRF. Denner, which is part of the Migros group, has said it will boost pay by 1.1% next year. Airline Swiss, another large employer, has announced a 2% pay boost. Other...

Switzerland’s pension system has three elements. The first is a state pension linked to the number of years worked. This is funded by a tax. The second is a salary based scheme funded by salary deductions, and the third is an optional element known as the third pillar. Contributions to all of these are tax deductible, providing an economic incentive to pay into them. This week, the Federal Council announced a change to third pillar contributions, reported SRF. © Gfadel | Dreamstime.comThe...

Data published this week by the Federal Statistical Office (FSO) shows that residential housing has risen in price by 18% since 2019. In the most recent quarter (Q3 2024) it rose 0.7%. Photo by maxxup on Pexels.comWith prices rising by 19%, stand alone houses have risen by more than apartments (+17.4%) over the same period. With the exception of Q1 2020, Q1 2021, Q1 2022, Q1 2023 and Q1 2024, the price of individual homes has risen every quarter since Q4 2019. The greatest price...

At the beginning of the Covid pandemic there was talk of closing Switzerland’s borders. However, it was clear that Swiss hospitals and businesses near Switzerland’s borders would not function without the workers who cross the border daily to work for them, and the notion was dropped. Statistics published this week by the Federal Statistical Office (FSO) show the number of cross-border workers at record levels. © Krasnevsky | Dreamstime.comAt the end of September 2024, around 403,000...

The Swiss National Bank (SNB) has started the process of issuing a new series of banknotes by launching a design competition, it announced this week. [embedded content] The new banknotes will not be issued until the early 2030s at the earliest, said the bank. The new series will be dedicated to the unique topography of Switzerland and will be launched under the theme “Switzerland and its high altitudes”. The 10-franc note will reflect Switzerland’s lowland plateau, the 20-franc note...

Pending new legislation means widows and widowers will soon receive a pension only until the youngest child reaches the age of 25. Currently, widows, but not widowers, receive a pension for life. For widowers the payments currently stop when the youngest child turns 18. This week, the Federal Council sent instructions to parliament to enact the reform, reported RTS. Photo by RDNE Stock project on Pexels.comThe change has partly been driven by the need to find savings to balance government...

This week, Switzerland’s federal government said it expects to run a deficit of CHF 900 million in 2024, a figure significantly below the original forecasted deficit of CHF 2.6 billion. Bern © Sean Pavone | Dreamstime.comThe original figure has now dropped twice, once in June by CHF 1 billion and now by a further CHF 0.7 billion to CHF 0.9 billion. The recent forecast reduction is driven by higher receipts (+0.4 billion), mainly from investment activities, and lower spending (-0.3...

In 1962, Switzerland introduced a law that required underground bomb shelter space be constructed for all residents. Since then shelters have been built into houses and communal spaces have been built by municipalities for those living in a building without one. This week, the federal government announced plans to increase spending to renew and maintain the nation’s stock of bomb shelters, reported SRF. Bomb Shelter © Petrarichli | Dreamstime.comThe 1962 law, which was born from the...

A study published this week found that nearly 1 in 20 (4.8%) people under 18 in Switzerland received social welfare in 2022, reported RTS. Children made up 33% of the total population on welfare. The report called for more money to ensure this group is sufficiently supported. Photo by SRIPADA STUDIOS on Pexels.comThe 76,000 children in Switzerland receiving social assistance often live restricted lives. There is a need for action regarding the level and design of social assistance...