The Canton of Zurich is the driving force of Switzerland’s economy and a highly popular place to live. We want it to stay that way. But the associated growth makes financial planning very challenging.
The cantonal budget comprises annual revenue and expenses of over 16 billion Swiss francs, making it Switzerland’s second-largest public budget (after the federal government).
For successful financial planning, it takes three things:
- the budget,
- the consolidated development and finance plan KEF,
- the annual financial statement.
Stable tax multiplier
Despite the strong growth of the Canton of Zurich, the Government Council has been able to keep the base of the most important revenue, taxes, stable since 2003: the cantonal tax multiplier has consistently stayed at 100 percent. In 1999, it was 108 percent.
For the 2019–2023 legislature, the Government Council has determined the following objectives:
- Healthy cantonal finances.
- Economical and cost-efficient execution of the cantonal tasks.
The Canton of Zurich has very stable cantonal finances and has been rated AAA by rating agencies for years. Despite the financial crisis, it has been able to lower the cantonal debt considerably since its peak at the end of the 1990s.