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Parliament approves federal budget for 2007

Both houses of parliament have now approved the federal budget for 2007, which shows a surplus of SFr4.1 billion ($3.99 billion).

This content was published on May 28, 2008 - 12:05

They have also approved a supplement of SFr227.8 million for this year's budget, which will go to the defence ministry and spending on civil servants.

Philipp Stähelin, president of the parliamentary budget committee, called last year's surplus "almost dangerously good".

However, Finance Minister Hans-Rudolf Merz cautioned against excessive exuberance.

He noted that the past year had been characterised by a booming economy and high tax revenue, but warned that the federal government faced a wish list for future projects that would cost SFr20 billion. He added that lower tax revenues could be expected in the future.

The projects include investment in the transport sector, as well as extra finance for development aid and allocations to the pension system.

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