Expert group proposes CHF4-5bn of cuts to Swiss federal budget

A Swiss government-appointed group of experts has proposed a series of over 60 measures to help federal finances out of the red and save CHF4-5 billion ($4.7-5.9 billion) a year. +Get the most important news from Switzerland in your inbox In the next few years Switzerland's federal budget deficit is expected to rise to around CHF3 billion a year. This is mainly due to additional spending on the army and state pensions. A group of experts set up by the Federal Council to analyse the state of Swiss finances on Thursday presented over 60 measures that could considerably reduce the budget and restore a financial equilibrium. + Fiasco for democracy? Switzerland miscalculates by billions They propose to act primarily on expenses with the assumption that defence spending will not reach 1% of gross domestic product (GDP) until 2035. + Swiss government sees CHF2-3bn annual deficits for 2025-2027 Other savings measures concern migration and climate policies, transport and social welfare. The ...