Page 14 - ASSET MANAGER 11 (EN)

14 • INTERVIEW
ZURICH IS BECOMING MORE ATTRACTIVE FOR RESEARCH
AND DEVELOPMENT
Swiss voters clearly approved the federal law on tax reform and AHV funding (STAF) on 19 May. Corporate taxation is therefore standardized. Although, in the run-up to the vote, this connection of various topics was criticized, the people decided for the package.
Interview with Ernst Stocker, Government Councilor, Finance Director of the Canton of Zurich
Mr. Stocker, what does this vote mean for you as Finance Director?
The very clear result is very pleasing to us. From Zurich's point of view, it is particularly pleasing that we can thus obtain good new tax instruments and arguments in order to keep our companies in the canton, in particular financial companies, of which there are a few in Zurich. The outcome of the vote is also a good example of how Switzerland re- peatedly succeeds in finding broad-based majorities.
What are the consequences for Switzerland as
a business location, especially for Zurich?
First and foremost, the decision of the electorate ensures legal certainty: it is now clear to companies what will be the case in the coming years and that the privileged taxation of individual companies will be abolished. I am convinced that the new rules will strengthen Switzerland as a location. We have signaled on an international level that we are not simply going to increase taxation and abolish controversial tax regimes, but that we are looking for good solutions for everyone. This also applies to Zurich, but here we have made it only halfway along the path – now it is time to help the cantonal implementation come to a breakthrough, which we will be voting about on 1 September.
The Zurich Airport Region is the region with the strongest economic growth in Switzerland. Many investments are currently being made and infrastruc- ture projects are being implemented. Is Switzerland more attractive for internationally active companies after this vote with regard to the adjustment of corporate taxes?
I’m sure of that. For many companies, a burdening uncer- tainty is now gone. This will give greater weight to the other locational factors, namely our liberal business climate, our excellent infrastructure – especially in the canton of Zurich and the airport region – but also our innovative environment with highly trained professionals and researchers.
Regarding resettlement – especially of foreign com- panies: what effects do you expect, especially from the promotion of research & development as well as the patent box?
If we succeed in helping the cantonal implementation of the tax reform to a breakthrough on 1 September in the Canton of Zurich, I expect an expansion in this area. Then, the canton of Zurich will become a very interesting location for companies with a great emphasis on research and in- novation, and that will also create interesting new jobs again. This is very forward-looking and fits perfectly with the further advantages of our location, such as the excel- lent educational offerings at the university level as well as our international interconnectedness, for which the airport plays an important role.
ERNST STOCKER
Governing Council of the Canton of Zurich, Director of Economics 2010 to 2015, Finance Director since 2015, Board of EKZ, Swisslos and Schweizer Salinen AG, Bank Council of the SNB, Vice President of the Conference of Can- tonal Governments, Member of the Board of Directors of the Financial Directors Conference