The Swiss Federal Institute of Intellectual Property has loosened the rules governing use of the Swiss cross – as a concession to global brands like the footwear company On. Until now, at least 60 percent of manufacturing costs have had to occur in Switzerland for a Swiss cross to be affixed to a product. In certain cases, a product designed or developed in Switzerland can now use it too. (WS)
Switzerland still has work to do on gender equality, says an OECD report. The Swiss pay gap between men and women is one of the highest. This is mainly due to the high proportion of women in part-time work as well as the cost of childcare. In December, parliament approved a new law that paves the way for higher childcare allowances. (WS)
Last September saw 50.4 percent of the electorate vote yes to the introduction of digital IDs (e-ID). The Federal Supreme Court (FSC) rejected a legal bid to overturn the referendum result, which centred on a donation that Swisscom paid to supporters of the yes campaign – regarded as contrary to the principle that a state-controlled company must be politically neutral. The FSC deemed the objections inadmissible because they were submitted too late, and the result of the vote remains valid. E-ID is to be rolled out in December. (WS)
The Federal Council wants systemically important (“too-big-to-fail”) banks like UBS to be subject to stricter capital requirements, so that investments in foreign subsidiaries are, in future, fully backed with readily available equity capital. This is following the collapse of Credit Suisse in 2023. The new rules aim to reduce the likelihood of another taxpayer-funded bailout and put the Swiss financial centre on a stronger footing. Parliament is due to debate the proposal in autumn. (WS)
The Federal Council has submitted its OASI reform proposals for consultation. Instead of increasing the retirement age, it wants to incentivise people to work longer by introducing a higher tax-free allowance from age 65 and allowing for greater flexibility in the transition to retirement. Taking early retirement would also be made harder. The changes would generate an extra 600 million Swiss francs a year for the pension system from 2030 to 2040. The question of funding remains open regarding the 13th state pension payment, the first of which is due in December. (WS)
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