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Switzerland plans to boost its defense spending by 31 billion Swiss francs ($40.38 billion) starting in 2028, driven by global geopolitical tensions. To fund this increase, the government will raise the sales tax by 0.8 percentage points over ten years, aiming for defense spending to reach 1% of GDP by 2032. The proposal, which requires parliamentary approval and a public referendum scheduled for summer 2027, comes in response to international conflicts, including Russia's invasion of Ukraine.