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The Swiss National Council has rejected a motion to ban donations from public and systemically important companies to political parties, allowing UBS and other big banks to continue their contributions. Cédric Wermuth of the Socialist Party criticized corporate influence on politics, especially following the Credit Suisse crisis, while Justice Minister Beat Jans deemed the motion premature, citing ongoing analysis of new transparency rules for political financing. A similar motion will be considered by the Council of States.
UBS will continue its political donations after the National Council rejected a motion to ban contributions from public and systemically important companies. The Socialist Party criticized corporate influence on politics, highlighting that systemically important banks donated over one million francs in 2023. Justice Minister Beat Jans deemed the motion premature, citing new transparency rules for political financing that came into effect in October 2022, with a report from the Federal Council expected by year-end.
The Federal Palace in Bern, inaugurated in 1902, intriguingly does not hold the prestigious address of No. 1 on Federal Square; that honor belongs to the Swiss National Bank, established later. This arrangement reflects the historical development of the square and the prominence of financial institutions in proximity to politics. While the Federal Palace has undergone several address changes, a swap with the SNB for the coveted number 1 remains a possibility, contingent on mutual agreement.
Delphine Klopfenstein Broggini
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Swiss parliament allows big banks to continue political donations despite concerns
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ubs continues political donations as national council rejects ban motion
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the curious case of the federal palace address in bern
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