Canton Schwyz budgets a massive deficit of millions for 2025
Published: Thursday, Sep 19th 2024, 10:40
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The Schwyz government is expecting a deficit of 88 million francs next year. The canton also expects to be in the red in the coming years.
A plus of 29 million francs is expected for the current year, the government announced on Thursday. However, this will be followed by deep red figures. With expenditure of 2.1 billion, the 2025 budget will close with a deficit of 88 million. In the years 2026 to 2028, the cantonal government is expecting an expenditure surplus of between 93 and 115 million francs.
The government cited various reasons for the deficits. For example, the canton cited the cost shift from the districts and municipalities to the canton amounting to around CHF 85 million, higher payments to the national financial equalization system, higher contributions to hospitals and rising contributions to premium reductions.
Major investments are also planned in the canton of Schwyz. Net investments of between CHF 110 and 158 million are planned for the years 2025 to 2028. This mainly involves road construction and building construction projects.
According to the statement, the canton's equity will dwindle from CHF 912 million to CHF 507 million by 2028. According to the government, the net assets are likely to be used up from 2029.
Despite the "negative budgetary development", the cantonal government wants to maintain the current tax rate. It has also announced that it will examine a tax reform as of 2026. This is intended to reduce the tax burden on natural persons by CHF 70 million. The government expects the revision to result in around CHF 30 million less revenue in the canton's coffers.
According to the government, the shifting of costs from the districts and municipalities to the canton will lead to a reduction in the municipalities' tax base of more than 20 percent. According to the government, the cantonal government expects the municipalities to pass on the relief to their citizens by reducing their tax rates.
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