Switzerland overwhelmingly voted down a proposed 50% inheritance tax on the super-rich in a referendum on Sunday.
The tax would have impacted inherited wealth above CHF50 million (A$95 million). Voters also rejected an initiative that would extend mandatory military or civilian service to women.
This inheritance tax was proposed by the youth wing of the Social Democratic Party. Switzerland’s government “would use the gross revenue from the tax to combat the climate crisis in a socially just manner and for the necessary restructuring of the overall economy,” according to the proposal.
Switzerland’s government campaigned against the ballot measure, arguing it would threaten the country’s economy. The tax proposal was rejected with 78% of the vote.
Around 2,000 people would likely have been affected by the tax. Switzerland has the highest average wealth per adult, according to a UBS report.
The initiative to mandate service for women was rejected with 84% of the vote.
It was introduced by the Citizen Service association, and was supported by the Liberal Greens, the Christian-democratic Evangelical People’s Party, and the youth wing of the Centre Party. Switzerland’s government did not support it, saying it would lead to additional costs and deprive the labour market of workers.
The country currently requires young men to serve in the military, civil defence, or civilian service. Women can volunteer, though it is not compulsory.
The ballot measure would also have added more options for civilian service in the environmental, health, and social service sectors.
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