Switzerland's legislation on the protection of animals is amongst the strictest in the world. The dignity and welfare of animals are protected, regardless of how many animals are kept in one place. The Confederation also encourages forms of agricultural production that are particularly close to nature, environmentally friendly and animal-friendly. This is required under the Constitution. More and more farm animals live in specially animal-friendly pens and have regular access to the outdoors.
The initiative wants to make protecting the dignity of farm animals such as cattle, chickens or pigs a constitutional requirement. It also aims to ban factory farming because it systematically harms the welfare of animals. The federal government would have to set stricter minimum requirements for animal-friendly housing and care, access to the outdoors, slaughtering practices and the maximum group size per pen. These requirements would have to meet the Bio Suisse standards for 2018 as a minimum, and all farms would have to comply with the new rules in their animal husbandry. The requirements would also apply to the import of animals and animal products as well as foods with ingredients of animal origin. This would be in breach of agreements with important trading partners. It would result in higher investment and operating costs, costly inspections of foreign farms and an increase in the price of food of animal origin.
The financial stability of OASI is at risk because baby boomers are reaching retirement age and life expectancy is rising. In a few years, OASI's revenue will no longer be sufficient to finance all its pension payments.
The reform to stabilise OASI (OASI 21) is intended to guarantee OASI pensions for the next ten years or so. It provides for both savings and additional revenue. A uniform retirement age of 65 will now apply for both women and men. The retirement age for women will be gradually increased from 64 to 65. This increase will be cushioned by taking compensatory measures: If the reform comes into force as planned in 2024, women born between 1961 and 1969 will be able to retire early under better conditions or receive a higher OASI pension if they work until they are 65. Additional revenue will come from an increase in VAT: the reduced tax rate will be increased from 2.5 to 2.6 per cent, the standard rate from 7.7 to 8.1 per cent. The reform also brings more flexibility: People will be free to choose a transition to retirement between 63 and 70 and to gradually reduce working hours while claiming a partial pension. Those who work after the age of 65 may now in certain cases close contribution gaps and thereby increase their pension. This creates an incentive to work for longer.
The Confederation levies a withholding tax of 35 per cent on income from interest. People living in Switzerland can claim this tax back if they declare the interest in their tax return. Withholding tax is only due on interest from bonds if the bonds were issued in Switzerland. This is a disadvantage for the Swiss economy, because in order to raise money, many companies issue their bonds in countries where no withholding tax is levied.
Swiss companies should be encouraged to issue bonds in Switzerland. This is why the new bill exempts domestic bonds from withholding tax. Swiss bonds would thus become more attractive for investors. The bill also abolishes the sales tax on domestic bonds and other securities. This is currently payable when buying and selling securities. Both measures would benefit the Swiss economy. In the best-case scenario, the reform could already finance itself in the year that it comes into effect. A referendum against the amendment has been called for. The referendum committee claims that the bill will result in more tax evasion.
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