Swiss Finance Minister Ueli Maurer attends a information conference in Vienna, Austria August 25, 2020. REUTERS/Leonhard Foeger
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ZURICH, May possibly 25 (Reuters) – Swiss Finance Minister Ueli Maurer dominated out govt assistance for consumers hit by superior strength costs and mentioned finances cuts may perhaps be wanted because the government would not elevate taxes to climate a looming economic storm.
“Petrol rates are cost-effective in rich Switzerland,” he explained to the Tages-Anzeiger paper in an job interview printed on Wednesday.
Maurer, a fiscal hawk from the appropriate-wing Swiss People’s Occasion, reported a economic downturn was nearing but its severity depended on how prolonged the war in Ukraine lasted and on power selling prices.
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He explained Swiss financial institutions must resist strain to phase up enforcement of sanctions on Russians getting punished in the West for the invasion of Ukraine.
“If everything we should say: Slow down a little bit and do not carry out the sanctions with a ‘Swiss finish’. Our banking companies in all probability sanction extra harshly than anyone else,” he was quoted as declaring.
He said Switzerland need to use gas-fired ability crops and prolong the life of nuclear electricity plants to aid meet its vitality needs, introducing that Switzerland would assistance to finance fuel terminals that neighbour Germany was making.
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Reporting by Michael Shields Editing by Edmund Klamann
Our Criteria: The Thomson Reuters Trust Principles.
