Strengthening competitiveness and security

The new US President Donald Trump is sending out clear signals: taxes are to be cut, regulation streamlined and tariffs increased. The US president is calling on Europe to do more for security. Switzerland must navigate this challenging geopolitical and global economic environment in the best possible way and strengthen its own attractiveness. Today's annual media conference of the umbrella organization Economiesuisse is therefore dominated by major reform projects.

 "We have to overcome blockades and vested interests. In order to guarantee prosperity and security, we now need public spirit and courageous decisions," emphasizes Christoph Mäder, President of Economiesuisse. The federal finances are facing a test with the relief package. It is crucial for the economy that the financial budget is placed on a solid foundation in the long term. This is the only way to create scope for investing in security and defense capabilities.

European policy: domestic policy implementation is the crux of the matter

It is essential for Switzerland as a business location that the bilateral path with the European Union (EU) is stabilized. "We are convinced that the bilateral path is the tailor-made path for Switzerland: where we want market access or cooperation, we conclude agreements and agree on common rules. In those areas where we don't want agreements, we don't," says Monika Rühl, Chairwoman of the Executive Board. As far as the contents of the negotiated foreign policy package are known, an initial positive conclusion can be drawn on the package from a business perspective: By updating the existing internal market agreements, access to the EU internal market can be put on a solid footing in the long term.

Economiesuisse expressly welcomes the programs for cooperation in selected areas, particularly in research and development via Horizon Europe. The business community also welcomes the fact that the safeguard clause in the agreement on the free movement of persons has been specified. This forms the basis for being able to take measures in the event of serious problems. Now it is time for domestic policy implementation. The concrete proposals for the implementation of the agreement package are crucial for the final overall assessment of the package. These are not yet available. However, one thing is clear: the flexible labor market is not up for discussion.

Banking regulation: Together we are strong

Switzerland needs a strong UBS. The export industry depends on a global bank with an excellent international network to accompany, finance and support its business activities abroad. It is in everyone's interest that UBS is competitive. It would therefore be wrong to impose conditions on UBS that hinder its international competitiveness. However, this does not mean that the existing banking regulations do not need to be optimized.

It is important that the right thing is done and that action is taken where it is actually needed. The report of the Parliamentary Investigation Committee (PUK) has shown that the main problems were the inadequate management of Credit Suisse, FINMA's underutilized supervisory instruments and insufficient cooperation between the authorities. With regard to the regulatory framework, the business community believes that an internationally coordinated approach is key to ensuring the competitiveness of the financial center.

Environmental responsibility initiative: a clear no

On February 9, the Swiss population will vote on the Young Greens' environmental responsibility initiative. If accepted, the consequences would be higher prices, consumption bans and comprehensive regulatory provisions. The initiative is one example among many others that demonstrate this: Instead of working on viable compromises, utopian goals are being set and Switzerland as a business location is being jeopardized. Economiesuisse clearly rejects the initiative and is campaigning for a "no" vote.

Source: www.economiesuisse.ch