ANNOUNCEMENT 17 Aug 2011

On 17 August 2011, the government of Switzerland considered the implementation of added export subsidies for the months September-December in the given year. With the details still to be decided, the government designated the expected budget surplus of SFr 2 billion (USD 2.4 bn) to be spent on "the external sector, tourism, innovation, research, infrastructure". The Federal Council announced the final specifications of the programme on 31 August 2011. However, public criticism over the proposed export subsidies led the government to reduce its programme to CHF 870 million, most of which went into unemployment insurance (500 million) and education (10 million to the Swiss National Science Foundation). The Federal Council deemed the additional expenditure as necessary means to counter the appreciation of the Swiss currency against the Euro and the US Dollar witnessed in the first half of 2011.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Swiss Government. (2011). Bundesrat beschliesst zwei Milliarden zur St?rkung des Werkplatzes und bek?mpft ?berhitzung im Hypothekargesch?ft. Available at http://www.news.admin.ch/message/index.html?lang=de&msg-id=40629

Swiss Government. (2011). Massnahmen zur St?tzung des Werkplatzes Schweiz. Available at http://www.news.admin.ch/dokumentation/00002/00015/index.html?lang=de&msg-id=40867

Swiss Government. (2011). Massnahmenpaket 2011. Available at http://www.news.admin.ch/NSBSubscriber/message/attachments/24011.pdf

Swiss National Science Foundation (2011). Neue Innovationsprojekte aus den laufenden NFS. Available at http://nfp.snf.ch/D/Aktuell/SNFInfo/Foerderungspolitik/Seiten/_xc_weitere_beitraege.aspx?NEWSID=1553&WEBID=705D0BF9-BC95-43E6-BF65-F8B316A4D74E


Inception date: 31 Aug 2011 | Removal date: 30 Dec 2011

State loan

CHF 100 million were given to a state-owned bank (Schweizerische Gesellschaft für Hotelkredit SGH) to be used in case a credit crunch were to occur in the tourism sector for unspecified reasons.

AFFECTED SECTORS

 
631 632 633 634

AFFECTED PRODUCTS

 
N/A