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Zurich, with over 100 million in the Plus

The calculation result is positive again, says chief financial officer Daniel Leupi (Grüne) on Tuesday in front of the media. In fact, the account of the city of Zurich, in the year 2018 a Plus from 107.8 million Swiss francs. The expenses amounted to 8,856 billion Swiss francs, the income 8,963 billion Swiss francs. The equity amounts at the end of 2018 1,276 billion Swiss francs.

The outcome resulting from the Interplay of many years of the city's investment in an economically, socially and environmentally successful city and a good economic situation, the investment profit, the statement of the city Council.

service departments close better-than-expected

To the good result, the municipal service departments have contributed: The vast majority of them has finished in 2018 better than budgeted. Also, real estate transactions, the resolution of the special-purpose attitude of the Fund for subsidized apartments, an extraordinary income from the repayment of the loan of the M-CH Group, as well as higher-defaulted dividends and a higher profit distribution, the Zurich cantonal Bank, had contributed to the improvement.

The shares of Flughafen Zürich AG beat, for once, had a negative impact. Compared to the balance sheet value of 2017, the value of shares decreased to 92,7 million Swiss francs. Further, the city of Zurich recorded a slightly lower tax revenues.

deficits on the horizon

A tax cut do currently anyway no sense, says Leupi. First of all, the vote for the corporate tax reform should be awaited. "As long as we don't see the possible failures, do not want any tax cuts," said the councillor.

The Outlook for the city of Zurich are not rosy, because it will threaten deficits. Although the city Council wants to continue to adhere to its financial policy, the city of Zurich is an attractive residential and business site. However, the growth of the city caused according to Leupi, many tasks remain a high cost and requires appropriate new investments.

The financial and task plan for the years 2019 to 2022, provides in 2021, deficits in height between 46.9 million Swiss francs (2021) and 94 million Swiss francs (2022). Thanks to the negotiations with the Canton of Zurich for the corporate tax reform (SV17) will be compensated to the municipalities in the implementation, although better now. The SV17 will, nevertheless, cause already in the first step, a considerable shortfall for the city of Zurich, according to the forecast. (sda/tif)

Created: 12.03.2019, 13:56 PM

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