Lucerne’s 2023 accounts close with a healthy profit instead of a deficit

Published: Thursday, Mar 14th 2024, 12:30

Updated At: Thursday, Mar 14th 2024, 11:50

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Once again a healthy profit instead of a loss: Lucerne's 2023 accounts close with a plus of CHF 146.2 million. The government had budgeted a minus of 21.1 million francs. It attributes this high deviation to higher tax revenue - especially from legal entities.

Companies delivered 142.1 million francs more than budgeted. State tax revenue from natural persons was CHF 7.0 million above budget, as announced by the Lucerne State Chancellery on Thursday.

Tax revenues are and will remain volatile, warned Lucerne's Finance Director Reto Wyss (center) in the press release. Moreover, they are not sustainable. In view of the planned investments, the canton of Lucerne needs positive financial statements. "And we have to be economical with our finances," emphasized Wyss.

The income surplus of CHF 146.2 million results from expenditure of CHF 4.1 billion. Net investments were slightly lower than the budget. Compared to the previous year, however, the canton of Lucerne invested around CHF 262.5 million more than originally planned. Net assets amounted to CHF 292.7 million at the end of 2023 and are slightly lower than in the previous year due to the high level of investment.

However, the canton's investment activity remains high, according to the press release. The canton is constantly confronted with additional demands and requirements, particularly in the areas of education, security, health and social affairs.

Strong cost growth ahead

According to the 2024-2027 task and finance plan (AFP), the government is forecasting losses for 2024, 2025 and 2026 due to strong cost growth. In addition, the debt brake on the income statement will not be met in 2025 with a deficit of CHF 42.4 million. It is therefore necessary to take measures for the 2025-2028 AFP.

For the sixth time in a row, the Lucerne government can present deep black figures. The 2022 accounts closed with a surplus of 204.5 million francs - which was also significantly better budgeted at the time. A deficit of 8.5 million francs had been planned.

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