Starting in 2014, the Swiss cabinet wants to save SFr750 million ($820 million) a year to finance new military and fighter jets.This content was published on February 2, 2012 - 09:19
The move, which will require all ministries to tighten their belts, comes after last year’s parliamentary decision to increase the army budget from SFr4.4 billion to SFr5 billion. The money will cover the jets as well as a 100,000-member army.
Because of this the annual army budget needs to be increased to SFr560 million in 2014 and SFr515 million in 2015, as the finance ministry announced on Wednesday.
Of the SFr750 million to be saved, the cabinet recommends that most of the funding be diverted from the interior ministry (SFr325 million), the ministry of the environment, transport, energy and communications (SFr170 million) and the finance ministry (SFr125 million).
In addition, the government hopes to reel in an additional SFr50 million in revenue.
A detailed proposal is expected in summer 2012.
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