Police Auction Yields Bargains; Growing Calls For Tax Refunds; Swiss Electricity Production Reaches Record

News For 23 April 2024

In the market for a discount Lambo? Or perhaps you need a new luxury vehicle, motorcycle or bike? On Saturday, the Basel Land Security Directorate in Liestal, a division of the cantonal police, will auction off luxury cars and motorcycles that have been confiscated in bankruptcy proceedings, criminal investigations or traffic related offenses.  The highlight of the auction is a black Lamborghini Gallardo 140, which normally resells used for anywhere between 75 and 150 thousand francs depending on condition.  Unfortunately, would-be buyers won't get to test drive any of the vehicles, and must settle their purchases in cash.


The canton of Basel Stadt ended its 2023 fiscal year with a 434 million Swiss Franc surplus.  That was just the latest in a series of surpluses over recent years.  It seems the majority of the population in the city, and their political representatives in the grand council have resolved to refund some of the windfall tax receipts.  Before you go spending the money however, it should be noted that the politicians are already bickering about the conditions that would be attached.  For the time being, the government is studying the details and has yet to set a date or amount of any tax refunds.


Switzerland produced 72.1 billion kilowatt hours of electricity in 2023, a rise of 13.5% over the prior year.  This level of production also made Switzerland a net exporter for the year, having sent nearly 6.4 billion kilowatt hours over the borders to Italy and Germany.  This added up to nearly an additional 1 billion francs of net inflows to the national treasury.  The bulk of the electricity produced in the country came from hydroelectric and nuclear power generation sources.