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Switzerland’s housing crisis is pushing low income earners into poverty, warned Caritas this week. Geneva © Boris Breytman | Dreamstime.comAccording to the charity, high rents are pushing some low income earners into poverty. An acute shortage of housing is pushing rents beyond the level that some people can afford, forcing them to cut back on spending in other areas, said the charity. Some are spending around a third of their income on rent and utilities, roughly double the average...

The number of babies born in Switzerland fell to 80,024 in 2023, a birth rate of 1.33 per woman, reported RTS. As recently as 2021, 89,644 babies entered the world in Switzerland. Between 2021 and 2023, the number has fallen nearly 11%. Photo by Pixabay on Pexels.comIn 2023, the fertility rate in Switzerland reached an historic low after trending down over the last decade. A doctor at a medical clinic in Geneva said a drop of around 20% over recent years can be observed across clinics in...

This week, Switzerland’s Federal Council decided to cut CHF 35 off the compulsory annual fee households must pay for public television and radio. The fee will fall from CHF 335 to CHF 300 by 2029, reported RTS. The fee reduction will happen gradually, falling to CHF 312 in 2027 and then to CHF 300 in 2029. In addition, more companies will fall outside the criterion for paying the fee. The minimum annual turnover for qualifying will rise from CHF 500,000 to CHF 1.2 million. This will mean...

On 20 June 2024, the Swiss National Bank (SNB) has lowered its key interest rate by 0.25% to 1.25%. © Deaconsdocs | Dreamstime.comAccording to Thomas Jordan, the head of the SNB, inflationary pressure has receded somewhat. The Swiss franc has recently appreciated against the Euro, reducing the price of imported good and services. If the franc appreciates it dampens inflation and this is included in inflation forecasts. Jordan told SRF that the central bank wants to ensure that...

Swiss cantons have very different tax bases, tax rates and spending. Until 2008, all cantonal taxes remained within cantons. Since then rich cantons have been required to support poor ones via the national financial equalisation mechanism. Next year, every French-speaking canton, with the exception of Geneva, will receive a financial boost from their wealthier German-speaking neighbours, reported the Federal Finance Administration (FFA) this week. The wealthy canton of Zug © Avkost |...

This week, Switzerland’s Green Party started collecting signatures to launch a referendum. The vote would ask voters whether to accept a plan to force those renovating or constructing a new building to install solar panels, reported RTS. Photo by MARIANNE RIXHON on Pexels.comThe Green Party says there are enough roofs in Switzerland to ween the country off imported fossil fuel and to avoid resorting to nuclear power. Currently, only 10% of roofs are being used for solar power production....

In March 2024, as Switzerland’s month-on-month inflation rate went to zero and the annual inflation rate dipped to 1%, the Swiss National Bank (SNB) cut its key interest rate from 1.75% to 1.5%. Some expected the bank to keep cutting. However, in both April and May 2024, monthly inflation returned, making further imminent rate cuts less likely. © Maticsandra | Dreamstime.comThis week, the Federal Statistical Office (FSO) published data showing consumer prices rising 0.3% during May 2024....

Switzerland has one of the world’s tightest housing markets. Vacancy rates in cantons like Geneva (0.42%) and Zurich (0.53%) are extremely low. By comparison, the rate in New York City (1.4%) is around three times higher. The vacancy rate across Switzerland (1.15%) as a whole is lower than NYC. © Fizkes | Dreamstime.comWith such a shortage of housing, one hope is that more family homes will come on the market as the population ages and people downsize. However, a report by Zurich...

Rising health insurance premiums, which partly fund Switzerland’s healthcare system, are a key concern among Swiss voters. An initiative that aims to subsidise the premiums of those on low incomes will be put to voters on 6 June 2024. Had the vote taken place in April 2024, 56% of voters would have supported it. However, a recent poll now puts the percentage at 50%, making the result difficult to call. Photo by Karolina Grabowska on Pexels.comWhy has support for the initiative faded?...

Switzerland’s federal government is spending more than it collects. To improve its finances it is looking for additional revenue and costs that it can cut. This week, the government decided to charge foreign students at its two federal universities, EPFL in Lausanne and ETHZ in Zurich, three times what they currently pay, reported SRF. Ethz © Drserg | Dreamstime.comSwitzerland is one of the most affordable places to study for both locals and foreigners. Fees to study at EPFL and ETHZ are...