Canton of Lucerne benefits from higher tax revenues
Lucerne - The Canton of Lucerne ended 2024 with a surplus of 293 million Swiss francs. The budget had anticipated a deficit of almost 29 million Swiss francs. The reason for the noticeable positive divergence was higher tax income, in particular from legal persons.
The Canton of Lucerne finished 2024 with a revenue surplus of 293.2 million Swiss francs according to an announcement from the state chancellery. The budget had foreseen a shortfall of 28.8 million Swiss francs. The canton attributes the large positive discrepancy to higher tax income, above all from legal persons, as well as good budget discipline in the administration.
The 2024 surplus represents the canton’s seventh positive result in a row. Finance Director Reto Wyss commented in the announcement: «The Canton of Lucerne was able to improve its financial foundation again with this.» However, he added that expenditures and investments will still be planned «wisely.»
The tax revenue from legal persons increased from 112.2 million to 418.5 million Swiss francs between 2019 and 2024. The canton anticipates income amounting to 343.2 million Swiss francs for the current year. Wyss explained: «This budget trend shows that we at the canton are absolutely responding to increasing revenue and not budgeting defensively. However, we do know as well that these tax revenues greatly depend on economic developments, which the canton for its part can only influence to a limited extent.»
The population and economy will reportedly benefit from the canton’s good financial position this year. In addition to a decrease in the tax rate from 1.60 to 1.55 units, a range of allowances have been increased in order for above all low and medium-income families to benefit. Furthermore, the canton plans to invest in building construction and civil engineering.
