Budget plan to cut billions in spending and tax breaks

A large package of measures to cut spending has been outlined:

Source:

Summary:

The plan aims to achieve billions of Swiss Francs in savings by the year 2030 and beyond.

The savings will be achieved through a combination of measures, including:

Economy and Finances:

  • Reduced support for businesses : This includes cutting subsidies for digitization projects, tourism, and agriculture.

  • Increased user fees : This applies to areas like higher education and public transportation.

  • Higher taxes : The plan proposes higher taxes on capital withdrawals from pension funds.

Social Welfare and Healthcare:

  • Reduced federal contributions : This affects areas like childcare, healthcare, and social assistance programs.

  • Shifting responsibilities : For instance, the plan proposes shifting responsibility for the International Red Cross and Red Crescent Museum to the canton of Geneva.

Other Areas:

  • Reduced funding for culture and media : This includes cuts to cultural promotion programs and media subsidies.

  • Streamlining of international cooperation : This involves reducing subsidies to international organizations and streamlining Switzerland’s international presence.

  • Reduced funding for education and research : This includes cuts to universities, research institutions, and vocational training programs.

I heard that Swissinfo.ch, which has reported on this, is on the chopping block as part of the planned cuts to media.

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This is interesting, hotel stays will include full TVA (8.1%) instead of the current (3.8%)

What I don’t like is the increase of taxes when getting the money from 2nd pillar. Also, additional taxation to meat imports.

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Forget the cuts, Swiss increasingly support socialist causes in the referendums since many years now. The 13th retirement pension payment and failed 2nd pillar reform are the latest show cases.

Say hello to double digit VAT soon.
And higher public deficit and debt positively correlate with high interest rates.

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It’s not surprising after the financial stress over the last years, even the Republican Party in the US are now firmly on the spending bandwagon.