The Home Run 4:00pm - 6:00pm

Listen Live

Search

Call for VAT hike

Friday, 14 June 2024 at 06:30

A parliamentarian is calling for a rise in VAT.

The country's finances are under strain. Demands on the army and the 13th pension payment means the government has to come with billions of extra cash.

State Councillor, a Liberal Party member for Sankt Gallen, Benedikt Würth, is the first to go public and says tax must rise. He suggests a 1% hike in VAT as a temporary measure for the next 5 years.

Half a percent will be used for the pensions and the other half for the army. 

Würth says he’s getting support from many other members from several different parties. He says he believes his idea has enough support for a realistic chance. 

If successful it means VAT will rise from the current 8.1% to 9.1%.

Share

More from Bitesize News

  • Vaud's tallest building now open

    The Tilia Tower, Vaud's tallest residential building at 85 metres, has officially opened in Prilly's Malley district

  • SBB app update

    SBB has updated its mobile app with four new features aimed at daily commuters and expat travellers

  • Lausanne benefit for Crans Montana fire victim

    The Alix Perroud Foundation hosted a benefit evening at the Olympic Museum in Lausanne last night, in memory of a young woman who died in the Crans-Montana fire

  • Lagarde soon to exit the ECB

    Christine Lagarde will leave the European Central Bank in early February next year, nine months before her mandate ends, the ECB announced on yesterday

  • UBS could move out of Switzerland

    UBS chief Sergio Ermotti has repeated his warning that the bank could leave Switzerland, telling Bloomberg that a Swiss passport is no longer enough to keep the bank here

  • Swiss office reopened in North Korea

    Switzerland reopened its diplomatic office in Pyongyang yesterday — the first visit by a Federal Councillor to North Korea in more than twenty years

Follow WRS

Download our app

Download on the App StoreGet it on Google Play