CHF 15bn Swiss Army & Ukraine Aid Package Meets Resistance

CHF 15bn Swiss Army & Ukraine Aid Package Meets Resistance

Fri, Apr 26th 2024

A contentious CHF 15 billion funding package combining support for the Swiss army and Ukraine reconstruction faces pushback from a center-left alliance in parliament.

KEYSTONE/GAETAN BALLY

The responsible Council of States committee wants to put together a CHF 15 billion package for the army and Ukraine. There is now resistance to this proposal from a center-left alliance. It is uncertain whether the proposal will find a majority in parliament.

The army budget is to be increased to 1% of gross domestic product (GDP) by 2030 after all. To this end, the army’s budget for the period 2025 to 2028 is to be increased by CHF 4 billion to CHF 29.8 billion.

In addition, a commitment credit of CHF 660 million is to be added to the 2024 armaments program compared to the Federal Council’s proposal. Procurements are to be brought forward by one year.

According to the majority of the SIK-S, this is to be financed by a special fund. This is to cover the army’s additional financial requirements – CHF 10.1 billion from 2025 to 2030 – and at the same time be used for reconstruction aid in Ukraine – CHF 5 billion.

Several centrist members of parliament have also made it known that they are skeptical about linking the two issues.

The Gsoa is also firmly opposed to the proposal, albeit for different reasons. For example, it is still unclear how the army could spend the additional money sensibly.

A reconstruction fund for Ukraine should also be created independently of other expenditure. “Such horse-trading is dishonest and untenable,” commented the Gsoa on the proposal of the majority of the SIK-S.

©Keystone/SDA

Related Stories

164.1 Million Francs Won in Euromillions Lottery
Thumbnail

Euromillions lottery sees a massive 164.1 million franc win with numbers 13, 22, 24, 33, and 47. ...

Logitech’s Start to the Year: Mixed Reviews
Thumbnail

Logitech reports a sales drop of 5% to $4.3 billion in FY 2024, but sees a significant profit surge and a strong fourth...

Karin Keller-Sutter Repeats Calls For UBS To Hold More In Reserve
Thumbnail

Swiss Finance Minister Karin Keller-Sutter calls for more bank equity to safeguard against financial crises and limit...

Zurich Flixbus Crash: Driver In Court, Facing Manslaughter
Thumbnail

Following a tragic 2018 bus accident on Zurich's Sihlhochstrasse, an Italian driver faces charges of involuntary...

Swiss FDI Spikes: As Foreign Investment Slows In Germany
Thumbnail

Amid a general decline in European foreign investments, Switzerland excels with over 50% increase in projects and a...

Is Swiss Labour Day Here To Stay? May 1st
Thumbnail

Intense debate in Switzerland as Young Finns seek to cancel May 1st holiday, while Syna pushes for national recognition...

Death of Ski Tourer on Piz Platta Following Snow Cornice Collapse
Thumbnail

A 61-year-old Swiss ski tourer falls 250 meters to his death on Piz Platta after a snow cornice breaks....

Stay in Touch

Noteworthy

the swiss times
A production of UltraSwiss AG, 6340 Baar, Switzerland
Copyright © 2024 UltraSwiss AG 2024 All rights reserved