Tuesday , June 28 2022
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Tag Archives: Editor’s Choice

Higher federal tax deductions for health insurance announced

Photo by Nataliya Vaitkevich on Pexels.com The cost of Swiss health insurance has risen sharply over the years. However, the amount that can be deducted from income to calculate federal taxes has remained comparatively low. This week, Switzerland’s parliament voted in favour of closing the gap between the standardised health insurance tax deductions and what people actually pay, reported RTS. The current deductions are CHF 1,700 for an adult, CHF 3,500 for a married...

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Concert tickets up to 77% more expensive in Switzerland

A survey found that the Swiss pay far more for concert tickets that their European neighbours. And the differences are significant, with Swiss price premiums ranging from 40% to 77% depending on the performer, reports RTS. Photo by picjumbo.com on Pexels.comAccording to Bon à Savoir, the consumer association behind the survey, there are many examples of inflated Swiss concert prices. For example, the cheapest spots to see the Rolling Stones in Bern were CHF 170. In Munich, the same ticket...

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Finance minister thinks Switzerland needs to cut public spending

Ueli Maurer, Switzerland’s finance minister, is concerned about Switzerland’s finances after a recent round of decisions to substantially increase public spending. Swiss finance minister Ueli MaurerDuring June 2022, Switzerland’s parliament agreed to significant increases to spending on the army, healthcare and the environment. The situation is not sustainable Maurer told SRF. In June, parliament agreed to boost military spending by CHF 2 billion, raising it from CHF 5 to CHF 7 billion...

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Switzerland’s underground freight project gets start date

This week, a project to build an underground freight tunnel network stretching from Geneva to St Gallen, was given a start date of 1 August 2022 by the Federal Council, reported RTS. The Cargo sous terrain (CST) project will connect Switzerland’s key hubs starting in 2031. CST aims to take the strain off the road and railway networks, reduce the environmental impact of transport and improve the delivery of goods across the country. The project, which was launched in 2013, includes a...

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Higher federal tax deductions for health insurance announced

The cost of Swiss health insurance has risen sharply over the years. However, the amount that can be deducted from income to calculate federal taxes has remained comparatively low. This week, Switzerland’s parliament voted in favour of closing the gap between the standardised health insurance tax deductions and what people actually pay, reported RTS. Photo by Nataliya Vaitkevich on Pexels.comThe current deductions are CHF 1,700 for an adult, CHF 3,500 for a married couple and CHF 700 for...

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Psychotherapy to be covered by basic Swiss health insurance

From 1 July 2022, psychotherapy provided by trained psychologists will be reimbursed under Switzerland’s basic compulsory health insurance, reported RTS. Photo by SHVETS production on Pexels.comTo qualify for reimbursement the service will need to be prescribed by a doctor and meet certain conditions. Pricing for the service remains to be set. The federal government and cantons still need to work out a price for reimbursable services. In the meantime, a provisional rate of CHF 154.80 will...

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French speaking politicians not always understood in Bern

Switzerland has four national languages but most of the population is fluent in only one of them. When politicians come together in Bern they generally speak in their home language assuming others present understand them, even if they cannot really speak the language spoken. This week, Pierre Nebel, a reporter at RTS, explored the level of French comprehension among non-French speakers in the Federal Palace. © William87 | Dreamstime.comThe most widely spoken language in Switzerland is...

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No tax cuts on fuel in Switzerland

This week, Switzerland’s upper house rejected proposals to cut the tax on fuel to counteract the impact of sharp price rises, reported RTS. Photo by Engin Akyurt on Pexels.comNeighbours France, Germany, Italy and Austria have all cut the tax on fuel. But Switzerland hasn’t. The Swiss People’s Party (UDC/SVP) has been pushing for one, arguing that its justified by the high financial burden of high fuel prices on commuters, middle class families, rural residents and businesses. However,...

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Migros to stay alcohol free after clear no vote

On 16 June 2022, the Swiss supermarket Migros announced that its members had voted in favour of maintaining a ban on the sale of alcohol in its stores, restaurants and takeaway outlets across all 10 of its regional cooperatives. © Adriana Stampfl | Dreamstime.comWith record voter participation of more than 630,000 members (29%) – members were offered free chocolate for voting – the result was clear. 80% of voters in the Aare and Zurich regions voted to keep the alcohol ban. Basel (76%),...

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Swiss central bank surprises market with interest rate hike

On 16 June 2022, the Swiss National Bank (SNB) surprised markets with a 50 basis point rise to its policy rate. The move marks the first time Switzerland’s central bank has raised rates since 2007. SNB Governing Board – Fritz Zurbruegg, Thomas Jordan, Andréa Maechle – © Schweizerische NationalbankAimed at taming inflation, the announcement led to a 2% jump in value of the Swiss franc against the Euro to 1.02 CHF to EUR in morning trading with technicals pointing towards further...

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