Government plans to top up Covid-19 economic package
More than 86,000 companies, including Swiss International Airline, have filed for unemployment benefits due to reduced work hours.
Keystone/Christian Beutler
The Swiss government is preparing an additional financial package to help the economy shaken by the coronavirus epidemic.
Economics Minister Guy Parmelin said the planned aid was aimed at supporting those small independent businesses that were ineligible for the first relief package of CHF20 billion (around 20.6 billion) presented two weeks ago.
“The government is prepared to provide more financial aid,” he said at a press conference on Wednesday. “There is no question that the economy will suffer because of the crisis, but the government wants to minimise the damage.”
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.
Parmelin said the finance ministry would present a proposal for additional funds by next Friday. For its part, the economics ministry has been mandated to define the criteria for new beneficiaries within a week.
The new package is destined for self-employed one-person ventures, including those in the cultural and the sports sector, as well as people working on demand. There are currently 330,000 people working as one-person ventures but 270,000 of them do not qualify for financial support, Parmelin said.
Unemployment payments
By the end of March, credits worth CHF11 billion ($11.5 billion) have been granted and more than 86,000 businesses applied for unemployment benefits covering reduced working hours. This represents nearly 20% of the Swiss work force.
“We are in the midst of a crisis – the worst to hit the Swiss economy since the Second world war,” said Parmelin.
The government wants to ensure that those people in the labour market most affected by the current crisis can survive, he added.
However, Parmelin again dismissed calls for tackling non-repayable loans and untargeted financial support. He said his ministry was considering measures to prevent abuses of the credits.
He also indicated that the government is preparing different scenarios to crank up the Swiss economy, gradually easing certain restrictions on businesses.
Justice Minister Karin Keller-Sutter said it was important to remain within the rule of law despite the Covid-19 epidemic.
Asylum requests will continue to be processed but adapted and deadlines will be extended, she said.
She also stressed that the asylum centres will house fewer people than under normal conditions to take into account the official health measures on social distancing.
More
More
Coronavirus: the situation in Switzerland
This content was published on
An overview of the latest Covid-related information in the Alpine nation.
Chimpanzee behaviours passed down through generations
This content was published on
Some of the complex behaviours of chimpanzees have been passed down and refined over generations. These include the combination of several tools for foraging.
More than 600,000 rounds of Swiss sniper ammunition reach Ukraine
This content was published on
Sniper ammunition from Swiss P Defence reached Ukraine via a Polish company in July 2023, reported SRF Investigativ on Thursday, citing official information.
Environment minister outlines Swiss efforts to limit global warming
This content was published on
Switzerland will do its part to achieve the goal of limiting global warming to 1.5 degrees Celcius, said Environment Minister Albert Rösti, who's attending COP29 in Baku.
This content was published on
Switzerland remains by a large margin the European champion of train travel, both in terms of the number of journeys per person and the number of kilometres travelled. Switzerland remains by a large margin the European champion of train travel, both in terms of the number of journeys per person and the number of kilometres travelled. Switzerland remains by a large margin the European champion of train travel, both in terms of the number of journeys per person and the number of kilometres travelled.
Swiss price watchdog slams excessive prices for generic medicines
This content was published on
The cheapest generic medicines available in Switzerland are more than twice as expensive as in other countries, according to a study by the Swiss price watchdog.
Nature should not figure in net zero calculations: academic study
This content was published on
The natural removal of CO2 from the atmosphere by forests or oceans should not be included in the net-zero balance of climate protection measures, argue researchers.
This content was published on
None of the 15 major Swiss retail banks is meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.
Switzerland tightens restrictions, announces more economic aid
This content was published on
The Swiss government on Friday announced a countrywide ban on gatherings of more than five people and an additional economic package.
How the Swiss food supply chain is coping with Covid-19
This content was published on
Running out of rice? Low on loo roll? In fact Switzerland has enough to last for months, but stockists are putting in serious overtime.
Swiss commodities sector grapples with Covid-19 turbulence
This content was published on
The importance of commodities and experience in handling fluctuations has helped commodity firms weather the coronavirus storm better than most.
This content was published on
Can the pandemic be separated from the economy? Columnist Daniel Warner writes that this and other important questions are now being raised.
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.