Zurich is making a profit and want to Corona-damaged companies to help

566 million Swiss francs: this values the Surplus from the notice is included in the Canton of Zurich in the financial year 2019. The are about 400 million more

Zurich is making a profit and want to Corona-damaged companies to help

566 million Swiss francs: this values the Surplus from the notice is included in the Canton of Zurich in the financial year 2019. The are about 400 million more than the cantonal Council in December 2018 with a budget. There are over 650 million more than SVP are even financial Director Ernst Stocker in September 2018 was calculated.

The Canton took massively longer (+627 million), there were also more than from a member of the Parliament budgeted (-208). The expenses amounted to in the end 15,81 billion, the yield was 16,38 billion.

The enormous sum of 566 million adds in a exceptional series of to Win a. Plus 390 million, plus 367 million, plus 548 million and the Surpluses of the years 2016 to 2018. Higher the income surplus was only in 2010, when it amounted to almost 600 million.

taxes

Finance Director Stocker bubbling happy Friday lured this morning in front of the media. "I am very happy, it is probably the best message of the day", he said in the face of all the Corona-messages should come. The significant result was due to higher tax income. Above all, the companies have contributed much more than budgeted (+115 million). Significantly higher is also the Canton's share of the direct Federal tax was. Here are more than 100 million came in as planned. And also the withholding tax contributed 48 million to the top result.

the bottom line is about 250 million resulted in more tax revenues than the Budget indicated. The tax income amounted to a total of 7,76 billion, of which about 5 billion of natural persons and 1.5 billion of legal persons originate. "This reflects the good economy," said Stocker. Also, not 119 million, which has paid the Bank in addition to were budgeted for. Accounting valuation changes in real estate, but also the power of 85 million have.

debt lowered 10 billion of equity

The Surplus will help to keep the cantonal budget in the medium term, is stable, said Stocker - "in spite of emerging high pressures and deficits in the coming years".

last year, the Canton has also invested strongly. "We are certainly one of the largest investors of the Canton," said Stocker. With 1.21 billion, he scored the highest value since 2015. The self-financing ratio is an impressive 117 per cent. This means that the Canton is able to Finance all of his expenses. Also 185 million of debt was repaid. The debt now amounts to 4,39 billion. This is a billion less than in 2011, as the Canton helped to massively redevelop the IUC. The equity was increased last year to 568 million to about 10 billion, also an impressive number.

Stocker tried to put the Figures into context. So he, the eighth, the 566 million Surplus after a lot of tones, but ultimately, only 2.7 percent of the budget accounted for, and thus – "excuse the expression said," – a "bird shit" be. The Federal government had made a profit of 4 percent of the budget, the Canton of Schwyz, of 7 percent and Glarus from 9 percent.

And now the Corona-crisis year

Now it is time to enjoy the 2019er-statements again. Because 2020 and the coming years bring much uncertainty. In the current year, it is still unclear how the Corona-crisis financially will have an impact. Almost certainly seems, however, that the company will give you less control. The reduction in yields come as a result of corporate tax reform.

The major could face more charges in the Canton. So the Voters decide in may whether or not the Canton paid annually, around 200 million more to the municipalities to the supplementary benefits to the AHV/IV for the benefit of needy persons.

On the other side is a lush Bonus of the national Bank waving: This has made such a high profit that it distributes to the cantons in the current year, four times the normal amount. Power for the Canton of almost 500 million francs.

Event and travel industry support

for the time being many companies from the Event or travel industry interested probably, if the Canton will help you. You suffer, Yes, especially under the corona of a crisis. In the cantonal Parliament with a corresponding proposal of the SP and the SVP for state aid in the double-digit millions on the road, the house has set aside for emergency loans to at least 100 million Swiss francs (more here).

Ernst Stocker was a question not specifically, but said the government was doing was thinking. He spoke of "measures to mitigate the challenges." Other cantons have responded already. Stocker said this measures subject to the Reservation of the Federal government. He knew this time, officially, still nothing from the 10-billion program of the Federal Council. In any case, "the Canton of the force" to help, said Stocker. "He can do it." They wanted to not panic, said Stocker, "but We recognize the situation."

what to do with the money?

The parties reacted differently to the positive Figures – and also have many ideas on how to invest the money.

The SP referred to the above-mentioned support credit for Corona-damaged companies and social security compensation , the Canton of "afford it easily" could. Also, the SP calls for an investment plan.

The Greens are happy about the financial leeway to invest in the nature and climate protection . You also want to cushion the impact of the Coronavirus – an issue that, as formulated, almost all parties, with the greatest emphasis on the GLP: The Canton had to prevent liquidity bottlenecks of the Zurich-based company and short-term economic support measures. With the money in addition, photovoltaic systems , energy-efficient building renovations , Veloautobahnen , infrastructure for the electric mobility and a bigger ZVV to be financed-offer .

The AL wants to see loved ones integration measures for foreign nationals , as well as a better family supplementary care financed.

to the staff , the EPP, and, of course, the trade unions, such as the VPOD or the Zurich trade Union Confederation (GBKZ), as well as the United staff organisations, think: Since there is a lot to catch up on, so the opinion. " jobs and wages back up " is the short formula of GBKZ.

The CVP wants to invest in the reduction in the cost of health insurance premiums , warns, but at the same time to many people's desires. The SVP rejects the wishes of the left and is confirmed to reduce your (in December rejected) proposal, the state taxes of 2 percent, relaxed to implement would have been. The SVP is now focusing on other fiscal measures: for example, the health insurance premiums should be fully tax deductible . And it the company were to reduce taxes to.

the liberals see it this way: in view of the great contribution of the economy for the good of the cantonal conclusion it is now time to make the second step of the control template 17: reduction in corporate taxes from 7 to 6 percent .

Created: 13.03.2020, 09:30 PM

Updated Date: 14 March 2020, 00:01

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