Voters in Switzerland on Sunday rejected a new inheritance tax for multi-millionaires, rejecting a proposal that would have sought money from the country’s wealthiest residents to fight climate change.
Final results from the country’s 26 cantons showed voters rejecting the “Initiative for the Future”, which called for a new climate tax on large inheritances. Official results showed that more than 78% of voters rejected it.
The Young Socialists had imposed a 50% inheritance tax on wealth worth 50 million Swiss francs ($62 million, €53.6 million) or more. The youth organization suggested using the revenue to finance “socially just measures to tackle the climate crisis and the necessary restructuring of the economy as a whole”.
Voters also rejected national service
In a separate poll, voters overwhelmingly rejected the proposed introduction of civil service for all youth, with 84.2% against the plan.
The Civic Duty proposal would require every Swiss citizen, regardless of gender, to perform national service in the military or in a civilian capacity.
The Swiss government and parliament opposed both proposals, arguing that they would entail huge costs and threaten the economy in the rich Alpine nation.
Switzerland holds national referendums four times a year, giving citizens a direct stake in policy making.
Edited by: Dmytro Lyubenko