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

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

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ZURICH, Might 25 (Reuters) – Swiss Finance Minister Ueli Maurer ruled out federal government aid for buyers hit by higher electrical power selling prices and explained budget cuts could be desired mainly because the federal government would not raise taxes to climate a looming economic storm.

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

Maurer, a fiscal hawk from the right-wing Swiss People’s Celebration, stated a recession was nearing but its severity depended on how long the war in Ukraine lasted and on power rates.

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He reported Swiss banking institutions should really resist stress to phase up enforcement of sanctions on Russians staying punished in the West for the invasion of Ukraine.

“If nearly anything we should say: Sluggish down a little bit and you should not put into action the sanctions with a ‘Swiss finish’. Our banking institutions probably sanction additional harshly than any one else,” he was quoted as stating.

He mentioned Switzerland should really use fuel-fired energy crops and lengthen the existence of nuclear power vegetation to assistance meet up with its power needs, adding that Switzerland would support to finance gas terminals that neighbour Germany was making.