Tuesday, February 7, 2023

Gloomy prospects characterize the budget debate in the Council of States

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“Worth waking up”

Gloomy prospects characterize the budget debate in the Council of States

The Council of States began deliberating the 2023 budget on Monday afternoon. The financial prospects darken after 2023. Finance Minister Ueli Maurer emphasized that solutions had to be found.

Switzerland’s financial prospects are becoming increasingly gloomy. The outgoing Finance Minister Ueli Maurer warned the Council of States on Monday to wake up for the time after 2023.

In the introduction, the spokeswoman for the preliminary advisory finance commission summarized Switzerland’s financial situation: “The debt brake will still be observed this year, but not from 2024,” said Johanna Gapany (FDP / FR). According to the extrapolation, the deficit will then increase every year. In the worst case, the funding deficit could rise to seven billion francs by 2026, according to the Federal Council.

Even if one is now talking about the 2023 budget, one should not ignore the prospects, said Gapany. The situation is not easy. New debt should not be made because of the debt brake. Specifically, the budget provides for income of CHF 79.8 billion and expenditure of CHF 80.5 billion. This results in a deficit of CHF 669 million. Last week, the National Council approved increases of CHF 14.1 million compared to the Federal Council’s proposal.

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