The Canton of Basel-Stadt has adjusted its 2024 budget surplus projection to CHF 106 million, up from the previous estimate of CHF 73 million.

This adjustment is due to higher anticipated tax revenue, particularly from direct federal taxes, which are expected to exceed estimates by nearly CHF 100 million. However, other direct taxes are projected to fall short by nearly CHF 80 million, including declines in inheritance tax and property gains tax.

Additionally, the Swiss National Bank (SNB) is expected to distribute CHF 46 million less in profits to the cantons due to losses in the 2023 financial year, resulting in no profit distribution.