Swiss households brace for higher heating costs this winter, and government to raise Value-Added Tax to finance the 13th pension — these are among the news that The Local reported this week. You can catch up on on everything in this weekly roundup.
Swiss households brace for higher heating costs this winter
The price of oil has skyrocketed by 76 percent over the past year, meaning that many homeowners in Switzerland will have to dig much deeper into their pockets to heat their homes during winter.
Experts attribute this hike to high transport costs, the geopolitical situation, and the difficult conditions in international energy and refining markets – all of which which continue to exert significant pressure on prices.
READ MORE: How the high oil prices will hit heating costs in Switzerland this winter
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Switzerland to raise Value-Added Tax to finance the 13th pension
The first payment of the 13th monthly state pension is due I nDecember.
As the scheme will cost 4.2 billion francs annually for the next four years and 5.4 billion by 2040, the government decided it would be financed by higher Value-Added Tax (VAT).
Concretely, the VAT would increase by 0.4 percent – going up from the current 8.1 to 8.5 percent.
READ MORE: How could Swiss plan to hike VAT hit you in the pocket?
Will fuel be in short supply in Switzerland in coming weeks?
During the persistent drought which affected much of Europe during the summer, the water in the Rhine had dropped to historically low levels and has not yet fully recovered.
This situation has disrupted the fuel supply, as tankers and barges are forced to sail with smaller loads to be able to navigate shallow sections of the river.
Switzerland, however, doesn’t face supply problems, as some of its petrol is delivered by rail from France.
READ MORE: Could Switzerland experience fuel shortages this autumn?
Global warming to have ‘far-reaching consequences’ on Switzerland
New research from the Federal Polytechnic Institute (ETH) in Zurich shows that a temperature rise of around 3C by 2100 is currently the most probable scenario for Switzerland.
This would have far-reaching consequences, as temperatures in the country are already rising more sharply than the global average.
According to ETH reserchers, “without immediate and drastic emissions cuts, we must expect a scenario in which warming increases by 25 percent.”
READ MORE: Switzerland faces ‘worst-case’ climate change scenario
Upcoming legislative election in the US could impact Switzerland
On November 3rd, all 435 seats in the U.S. House of Representatives and 35 of the 100 Senate seats are up for election. The results could impact Swiss economy as well.
If the Democrats win both chambers – that is, the House of Representatives and the Senate – that would be the best possible scenario for Switzerland because Trump’s room for maneuver in terms of foreign policy would be restricted.
If, however, the Republicans will maintain control of both chambers, the president would have free rein in pursuing his current trade agenda.
READ MORE: How could US midterm elections affect Switzerland?
Police warn consumers about Switzerland’s ‘Uber scam’
Under the pretext of verifying payment details, an email purportedly sent by Uber scammers and titled ‘Action Required’ asks the recipient to verify or update their payment information.
Pursuing this transaction, the victim will do just what the scammers want: provide the information they need to not only to empty your account, but also to perpetrate other kinds of fraud.
Cyber police is therefore urging anyone who is targeted by this scam not to respond to it.
READ MORE: Swiss police warn of a new ‘Uber scam’
