Nidwalden expects a deficit of 2.2 million francs in 2025
Published: Thursday, Sep 12th 2024, 11:10
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The government of Nidwalden is budgeting in the red for the coming year. A deficit of CHF 2.2 million is expected, as the canton announced on Thursday.
Compared to the previous year's budget, the result is CHF 24.6 million better, according to the statement. Higher tax revenues and the expected funds from the National Bank had led to this result, explained Nidwalden's Director of Finance Michèle Blöchliger in the press release. In addition, the National Bank will pay out CHF 2.4 million to the canton for the equivalent value of an earlier and invalidated banknote series.
Nevertheless, the government councillor warned. The growth in tasks had recently increased "disproportionately". This is why the government has decided to review its services externally in order to identify potential for savings and optimization, according to Blöchliger.
Nidwalden plans to invest CHF 35.8 million in 2025. This is around CHF 6 million more than in the previous year. Plans include the comprehensive renovation of the Breitenhaus in Stans and cantonal road projects, for which the government intends to invest CHF 15.4 million.
Substantial investment is also planned for 2026. According to the canton, Nidwalden plans to invest a total of around 44 million francs, in particular for hydraulic engineering projects and loans to care homes. Investments are likely to be even higher in 2027, with CHF 54 million budgeted. The largest share of this relates to a new triple gymnasium at the secondary school.
The Finance Director is concerned about the planned inheritance tax initiative, which the electorate is not expected to vote on until the end of 2025 at the earliest. According to Blöchliger, the canton and municipalities in Nidwalden are threatened with a loss of around 20 percent of tax revenue if the initiative is approved by voters. "This would have a significant negative impact on the canton's financial budget and therefore affect all sections of the population," said Blöchliger.
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