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Old 21.01.2015, 10:23
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Re: Aftermath of SNB EUR Peg Discontinuation - Would you be happy to take a 20% pay c

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Only if you are fixing at today's rates. What if you fixed at 3% years ago?

The thing is, not all prices in Switzerland will fall. We are likely to experience deflation too, so falling tax receipts will mean that the government might have to raise tax rates.

Of course governments don't like to miss an excuse to raise taxes.

But surely if overall costs go down, the government too should be able to make do with less.
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