The 2022 accounts of the Jura State end with a profit of 320,000 francs while the budget forecast a deficit of 20.5 million. This result is explained by an increase in tax receipts linked to the good economic situation and by payments from the SNB.
“This result offers a breath of fresh air to cantonal finances”, immediately declared the Jura Minister of Finance, Rosalie Beuret Siess, commenting on the 2022 accounts on Thursday. Compared to the budget, the improvement amounts to some 20 .8 million francs. For the government, this result is satisfactory.
The strong economic recovery, like the watchmaking sector which had one of the most favorable years in 2022, resulted in an increase in corporate tax receipts. This economic acceleration was difficult to predict when the budget was drawn up while the restrictions linked to the pandemic were in force. A finding that applies to other cantons.
Business resilience
The Jura observes that direct tax revenue is higher than the budget, in this case by 15 million francs or 4.4%. But they are still below the level that prevailed before the tax reform in 2019. The government wanted to salute the resilience of Jura businesses.
The costs of measures related to the pandemic are proving to be lower than expected. This finding brings a unique improvement of 5 million. The reception of Ukrainian refugees resulted in unforeseeable expenditure of 3 million francs, including one million for personnel costs.
The distribution of the profit of the Swiss National Bank (SNB) made it possible to present these balanced accounts. The share received by the Jura amounted to 34 million francs. Without this distribution, the canton would have had to recognize a loss of 34 million last year, noted the minister.
Uncertainties around the SNB
The situation looks different for 2023. Due to the loss suffered by the monetary institution, the cantons and the Confederation will not receive a share of the profit this year. Concretely, the canton of Jura will not receive during this year the 22.8 million provided for in the 2023 budget.
The Minister noted the fragility of cantonal finances with this uncertainty weighing on the payments from the SNB in the coming years. “The difficult geopolitical context is also putting public finances under pressure,” said Rosalie Beuret Siess.
The 2022 result does not therefore call into question the efforts undertaken within the framework of the Balance Plan 22-26 program aimed at cleaning up cantonal finances. “It is essential to continue efforts to make savings,” warned the socialist minister. The canton has been facing chronic and structural financial difficulties for years.
ats/asch