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Tag Archives: Personal finance

Swiss parliament votes in favour of flight tax

© Christian Heinz | Dreamstime.com A majority of Switzerland’s parliament voted in favour of introducing a tax on flights departing from Switzerland. 132 voted in favour of the tax, with 65 against. The tax would range from CHF 30 to CHF 120 depending on the distance and class of travel, according to 20 Minutes. Private flights would be taxed too. A tax of between CHF 500 and CHF 5,000 would be charged depending on the type and size of aircraft. Parliament also voted...

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Swiss parliament votes in favour of flight tax

A majority of Switzerland’s parliament voted in favour of introducing a tax on flights departing from Switzerland. © Christian Heinz | Dreamstime.com132 voted in favour of the tax, with 65 against. The tax would range from CHF 30 to CHF 120 depending on the distance and class of travel, according to 20 Minutes. Private flights would be taxed too. A tax of between CHF 500 and CHF 5,000 would be charged depending on the type and size of aircraft. Parliament also voted in favour (133...

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Coronavirus cost could rise to 40 billion francs in Switzerland this year

The coronavirus could cost Switzerland CHF 40 billion by the end of 2020, according to the Federal Council. © Pascal Halder | Dreamstime.comOn 11 June 2020, the Council of States, Switzerland’s upper house followed parliament in approving to extend the coronavirus budget by CHF 14.9 billion. The sum includes money to fund a hole in the unemployment benefits system (14.2 billion) and support the sporting industry (0.2 billion). In May 2020, parliament approved an overall sum of CHF 57...

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Swiss employer must pay employee’s rent, rules court

Switzerland’s highest court recently decided that an employee asked to work at home can claim a part of their rent from their employer, according to the newspaper 20 Minutes. © Ronstik | Dreamstime.comAn employee of a financial firm in Zurich, who got into a disagreement with their employer over the reimbursement of some of their rent, took their case to the Federal Tribunal, Switzerland’s highest court. The rental reimbursement related to the use of the employee’s home as an office....

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Coronavirus: drop in revenue could leave Swiss hospitals with 3 billion loss

© Francisco Javier Zea Lara | Dreamstime.com In Switzerland, the finances of hospitals are similar to those of a business. If revenues fall, as they did during the coronavirus pandemic, profits can turn into losses. During the recent phase of the pandemic, non-urgent operations were postponed to free up hospital capacity to care for serious Covid-19 cases. Postponing these operations has left a large hole in hospital revenue. Fears of infection have kept others away...

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Coronavirus: drop in revenue could leave Swiss hospitals with 3 billion loss

In Switzerland, the finances of hospitals are similar to those of a business. If revenues fall, as they did during the coronavirus pandemic, profits can turn into losses. © Francisco Javier Zea Lara | Dreamstime.comDuring the recent phase of the pandemic, non-urgent operations were postponed to free up hospital capacity to care for serious Covid-19 cases. Postponing these operations has left a large hole in hospital revenue. Fears of infection have kept others away from hospitals, further...

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Swiss central bank could take negative rates lower

The rate on deposits at the Swiss National Bank (SNB) is currently -0.75%. And while taking the rate further into negative territory is not the base case scenario, it cannot be excluded, according to some economists at the bank UBS. © Marekusz | Dreamstime.comThe probability that the SNB lowers rates further is not a base scenario, according to Thomas Jordan, the bank’s chief, reported the newspaper 20 Minutes. However, economists at UBS think it is possible, and give it a 30%...

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Unemployment up sharply in April in Switzerland

© Spacedrone808 | Dreamstime.com The unemployment rate in Switzerland rose to 3.3% in April 2020, up from 2.9% the month before, a rise of nearly 14%. By 30 April 2020, there were 153,413 people registered as unemployed at Switzerland’s regional placement offices. Young workers were the hardest hit. Unemployment among those aged 15 to 24 rose by 18.1% compared to March 2020 and by 61.3% compared to April 2019. By the end of April 2020 there were 17,191 people in this...

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Swiss consumer sentiment at historic low, according to government survey

Consumer sentiment in Switzerland in April 2020 reached a historic low. The coronavirus has dampened expectations for general economic development and employment and the population is bracing itself for tough financial times, according to the survey. © Michael Müller | Dreamstime.comSwiss consumer sentiment fell from −9 points in January 2020 to −39 points in April 2020, a level well below the level seen in the 2008-2009 financial crisis. The only other time consumer sentiment was...

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Unemployment up sharply in April in Switzerland

The unemployment rate in Switzerland rose to 3.3% in April 2020, up from 2.9% the month before, a rise of nearly 14%. © Spacedrone808 | Dreamstime.comBy 30 April 2020, there were 153,413 people registered as unemployed at Switzerland’s regional placement offices. Young workers were the hardest hit. Unemployment among those aged 15 to 24 rose by 18.1% compared to March 2020 and by 61.3% compared to April 2019. By the end of April 2020 there were 17,191 people in this age group out of...

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