UBS Outlook Switzerland
UBS Outlook Switzerland: Stemming the tide of regulations
The abrupt rise of the Swiss franc following the Swiss National Bank's (SNB) decision to unpeg the franc from the euro minimum exchange rate in mid-January changed the conditions for conducting business in Switzerland dramatically. Given the difficult interest and exchange rate situation, Switzerland should reinforce those location factors that can be influenced directly. Crucial among these are regulatory efficiency and business-friendliness. UBS economists note in the latest edition of UBS Outlook Switzerland that Switzerland has continuously lost ground internationally over the last years due to increasing regulations. Businesses' capacity to act is continually limited by an ever-tightening web of rules and regulations. The number of regulations has risen measurably. For example: The scope of the legal corpus at a federal level has swelled by 12,000 pages in the last 10 years and now comprises 66,000 pages of laws and directives. In the record-topping year of 2012, an average of 140 pages of new laws and directives were enacted each week. Entrepreneurs also cited inefficient government bureaucracy as one of the biggest obstacles to their businesses in the World Economic Forum Global Competitiveness Report in 2014.
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