by The federal government spent less in 2023 than budgeted but overestimated revenue. The net effect was an additional unexpected shortfall of CHF 1.4 billion, reported SRF. © Bartolomiej Pietrzyk | Dreamstime.comAt a media conference this week, finance Minister Karin Keller-Sutter said that the Federal Council was not aiming to raise a taxes to fund the additional shortfall. Raising taxes would require a constitutional amendment to get around the debt brake and would set a precedent for future overspending. Instead, the federal government will look for further savings. Cuts in spending on payments to farmers, culture and international organisations have already been scheduled. Keller-Sutter said that cleaning up the budget sustainably requires structural measures. And it is not
Topics:
Investec considers the following as important: Editor's Choice, Personal finance
This could be interesting, too:
Investec writes Switzerland ranked second in digital competitiveness
Investec writes Swiss wages set to rise in 2025
Investec writes Federal Council hopes to boost savings with pension change
Investec writes Switzerland’s cross border workers reach record level
The federal government spent less in 2023 than budgeted but overestimated revenue. The net effect was an additional unexpected shortfall of CHF 1.4 billion, reported SRF.
At a media conference this week, finance Minister Karin Keller-Sutter said that the Federal Council was not aiming to raise a taxes to fund the additional shortfall. Raising taxes would require a constitutional amendment to get around the debt brake and would set a precedent for future overspending.
Instead, the federal government will look for further savings. Cuts in spending on payments to farmers, culture and international organisations have already been scheduled.
Keller-Sutter said that cleaning up the budget sustainably requires structural measures. And it is not just needed because of the debt brake, but also to gain financial policy leeway, she said.
More on this:
SRF article (in German)
For more stories like this on Switzerland follow us on Facebook and Twitter.