Swiss consumers don’t need govt help to cope with inflation -finance minister

Swiss Finance Minister Ueli Maurer attends a information conference in Vienna, Austria August 25, 2020. REUTERS/Leonhard Foeger

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ZURICH, Could 25 (Reuters) – Swiss Finance Minister Ueli Maurer ruled out authorities assist for people hit by higher electrical power selling prices and claimed spending budget cuts could be essential simply because the government would not raise taxes to weather conditions a looming financial storm.

“Petrol charges are reasonably priced in wealthy Switzerland,” he informed the Tages-Anzeiger paper in an job interview posted on Wednesday.

Maurer, a fiscal hawk from the suitable-wing Swiss People’s Party, explained a recession was nearing but its severity depended on how very long the war in Ukraine lasted and on strength price ranges.

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He reported Swiss banking institutions ought to resist tension to step up enforcement of sanctions on Russians being punished in the West for the invasion of Ukraine.

“If everything we ought to say: Slow down a little bit and don’t apply the sanctions with a ‘Swiss finish’. Our banking companies possibly sanction more harshly than any individual else,” he was quoted as saying.

He reported Switzerland should really use gasoline-fired energy plants and extend the life of nuclear electric power vegetation to aid satisfy its electricity needs, introducing that Switzerland would support to finance gas terminals that neighbour Germany was building.

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Reporting by Michael Shields Modifying by Edmund Klamann

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