Switzerland plans to invest an additional 31 billion Swiss francs ($40.38 billion) in defense and security starting in 2028, and to finance it, the government will raise sales tax for ten years, the government said on Wednesday.
Referring to the deterioration of the geopolitical situation, the Federal Council of Switzerland stated that it is necessary to strengthen the defense of the country, where military spending is currently not planned to reach one percent of the gross domestic product before 2032, reports Reuters.
Under the new plan, the sales tax would be increased by 0.8 percentage points over ten years, starting in 2028.
– The world has become more unstable and insecure, and the international order based on international law is under pressure – the government stated, adding that numerous European countries responded by strengthening their defense capacities.
Swiss officials and lawmakers warn that conflicts, including Russia’s invasion of Ukraine, the rivalry between the United States and China, as well as tensions in the Middle East, pose risks to Switzerland through threats such as espionage, cyber attacks and even terrorist attacks.
The government stated that the existing financial plans no longer reflect the growth of arms costs, which have increased due to inflation and higher demand.
The government’s plan must be approved by parliament, and it also faces a referendum that could be held next year.
According to the plan, spending priorities should also include investments in information technology, cyber security and electromagnetic reconnaissance, as well as strengthening police and border protection.
(Vijesti.ba / FENA)
