Govt announces more cuts to balance books

In a bid to balance its budget by 2025, the Swiss government has announced new cost-cutting measures.

The CHF 2 billion budget cuts brought in earlier this year will not be enough, says the government.

The main cuts will be to unemployment insurance – CHF 250m over 5 years – and railway projects of CHF 150m over three years.

The amount paid to cantons from federal tax will also be cut by CHF 200m

With some additional cuts to widow and widower pensions, the package should save CHF 700m a year from 2025.

But the government says the country will still be in the red. 

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