Karin Keller-Sutter: “We are living beyond our means”
Published: Saturday, Jan 20th 2024, 13:40
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At the FDP delegates' meeting in Zug, Federal Councillor Karin Keller-Sutter once again emphasized the importance of a balanced financial budget for Switzerland. "In other words, we are living beyond our means and thus jeopardizing one of Switzerland's key trump cards: fiscal stability," said the Finance Minister.
The FDP Federal Councillor said that this was not the Finance Minister's job-related pessimism. The causes of the growth in expenditure are on the table: these are primarily the rising expenditure for the AHV and the growth in military expenditure.
In the tool and machine industry, applications for short-time working are increasing because the most important export markets are weakening. She warned of a possible recession in view of the tense geopolitical situation. The increasing indebtedness of many countries is still barely on the public radar.
"I don't want to paint the devil on the wall here," said Keller-Sutter. "But I would like to point out that we have to be prepared for tough budget debates in the coming years."
Keller-Sutter reaffirmed the necessity of the debt brake, even if it is repeatedly called into question by various circles. For Switzerland as a small open economy with its own currency, financial discipline and financial stability are key.
In order to maintain the scope for action, the Federal Council wants to review all tasks and subsidies, including transfer payments, i.e. the core tasks of the state. The government also wants to look at the distribution of tasks between the federal government and the cantons. Subsidiarity and the principle that the costs of state services should be borne where they are provided should apply once again, explained Keller-Sutter.
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