Monday, March 20, 2023

Cashiers of the cantons stay cool

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SNB down

Cashiers of the cantons stay cool

The cantons have to budget without SNB millions this year. No need to panic, say financial directors – and look forward to future distributions.


The Swiss National Bank made a loss of CHF 132 billion last year. There will be no distribution of profits to the federal government and cantons this year.

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Peter AeschlimannFederal house editor Sunday view

Even if it had become apparent: bad news is bad news. The Swiss National Bank (SNB) lost a record CHF 132 billion last year. The cantons get nothing. The cashiers who, despite the dark clouds on the investment horizon, were expecting a distribution of profits, now have to tighten their belts. Where is saving and where are possible tax increases to be expected? SonntagsBlick asked all finance directors.

The good news first: There is no panic. Nobody is announcing tax increases, nobody is putting a major project on hold. The tenor is that a one-off lack of money is absolutely manageable. This optimism also prevailed in the budget planning. 16 cantons had counted on the grant, ten cantons planned without the SNB millions.

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