The Swiss Times - Swiss News in English

Glarus Projects 6.7 Million Francs Deficit for 2024 Budget

The Glarus cantonal government has approved a budget for the upcoming year with an expenditure surplus of 6.7 million Swiss francs. Due to the financial situation, the canton is now planning a relief package to avoid a future tax increase. The expected deficit in the Canton of Glarus is primarily due to a significant increase in expenses, the Canton of Glarus announced on Wednesday. In particular, the increase in health care and the cantonal financial equalization are particularly striking. According to the announcement, the total expenditure of 439.4 million Swiss francs is offset by an income of 432.6 million Swiss francs. Gross investments amount to 65.7 million Swiss francs. The Canton's budget for 2024 includes a withdrawal of 8.8 million Swiss francs from the financial policy reserve to provide relief. This is intended to compensate for the expected loss of dividends from the Swiss National Bank. The government council has now approved the budget for the county council. For 2025, the Landsgemeinde will be proposed an unchanged tax rate and building tax surcharge. In order to protect the fiscal policy objectives of the canton and avoid future tax increases, savings are now unavoidable, according to the statement. The government is concerned that the expenditure surpluses remain at a high level without any visible improvement. Therefore, it will develop a comprehensive relief package and submit it to the Landrat by the end of September 2024.nn

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