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.
Is reforming the Swiss pension system still possible, and if so, how?
Solutions still need to be found to meet the challenge of an ageing population and to improve the pensions of low-paid workers, the majority of whom are women.
New European space tech centre in Switzerland launches its first project
This content was published on
The European Space Deep-Tech Innovation Centre (ESDI), launched in collaboration with the Paul Scherrer Institute (PSI), is to be located in the immediate vicinity of the PSI in northern Switzerland.
Swiss Federal Railways launches campaign for safety on public transport
This content was published on
The Swiss Federal Railways is launching a campaign for greater respect and safety on public transport, with posters to go up in stations and on trains starting next week.
Swiss scientists to use AI for improved weather and climate forecasts
This content was published on
MeteoSwiss and the Swiss Data Science Center have signed a four-year agreement to make greater use of AI in meteorology and climatology going forward.
This content was published on
Prices of owner-occupied homes rose in the third quarter of 2024 by 0.5%, with inflation affecting both apartments and single-family houses, says the Federal Statistical Office.
This content was published on
The honey harvest is projected to be lower than usual this year, as Swiss beekeepers report harvesting an average of just 16kg of honey per bee colony.
More young refugees in Switzerland following vocational training
This content was published on
More than half of young refugees and temporarily admitted persons between the ages of 16 and 25 are now in training. This is significantly more than five years ago.
One in five Swiss children suffers psychological abuse at home
This content was published on
In Switzerland, one in five children suffers psychological violence, and one in three has witnessed psychological violence between parents, says the association Kinderschutz Schweiz.
Swiss government minister breaks silence over Trump remarks controversy
This content was published on
Transport Minister Albert Rösti explained himself in a television interview on Sunday evening, after being called out for expressing support for Donald Trump.
Swiss Covid expert calls for caution on vaccination recommendations
This content was published on
The head of the vaccination commission would be “even more cautious today” when it comes to Covid-19 vaccination recommendations.
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.