Parliament approves extra CHF14.9 billion for Covid relief
A further CHF14.9 billion ($15.5 billion) has been agreed by parliament to cope with the coronavirus pandemic. Most of it will go towards unemployment insurance, which finances short-time work compensation.
With the new credit package approved in the Senate on Thursday, coronavirus costs for the government will almost double. In an extraordinary session at the beginning of May, parliament approved around CHF16 billion of funds to cover lost wages, the purchase of medical equipment and other expenses. This tranche of funds has now been increased to CHF31 billion.
This is part of a much larger package of financing, which also includes some CHF40 billion in emergency loans for companies. Before Thursday’s granting of extra funds, the government had already set aside more than CHF65 billion to support the economy.
The government estimates that the budget deficit in 2020 will amount to around CHF40 billion.
But Switzerland can afford the expenditure, said parliamentarian Eva Herzog, echoing a similar statement by Finance Minister Ueli Maurer at the height of the Covid-19 wave. “We are less in debt after the crisis than our neighbours before the crisis,” Herzog said.
The finance commissions will discuss how the eventual state debt could be reduced at a finance policy seminar at the end of June.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
More
More
Coronavirus: the situation in Switzerland
This content was published on
An overview of the latest Covid-related information in the Alpine nation.
Pro-Palestine uni protests to be debated in Swiss parliament
This content was published on
The Swiss People’s Party says it will launch two postulates calling for clarifications about the recent student protests and occupations.
This content was published on
A 36-year-old man from Ticino lost his life on Saturday in Val Malvaglia, in the north of canton Ticino, during a wingsuit jump from a plane.
Swiss Evangelical Reformed Church numbers dropping in French-speaking Switzerland
This content was published on
As in German-speaking Switzerland, the number of members of the Reformed Church in French-speaking Switzerland is also declining.
Gotthard traffic queue hits 20km during holiday weekend
This content was published on
The traffic jam at the Gotthard north portal reached a length of 20 kilometres on the motorway between canton Nidwalden and canton Uri.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Pandemic pushes more Swiss businesses to short-time working
This content was published on
In order to avoid mass lay-offs, Swiss firms are resorting to a measure that has proved its worth in times of crisis: short-time working. What is it?
Government announces major easing of coronavirus restrictions
This content was published on
The Swiss government has announced a significant relaxation of coronavirus restrictions and an imminent end to its emergency powers.
This content was published on
Regularising undocumented migrants is key to solving the plight of the thousands of people queuing up in Geneva for food parcels.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.