Swiss voters overwhelmingly rejected a proposed inheritance tax on multimillionaires on Sunday, November 30th. It was a plan that aimed to fund climate action through wealth redistribution. The “initiative for a future,” which suggested a 50% tax on inheritances above 50 million Swiss francs (€54 million), was opposed by more than 78% of voters across all 26 cantons.
In a separate ballot, citizens also rejected a proposal to introduce mandatory civic service for all young people, with 84.2% voting against the measure. The Swiss government and parliament had opposed both initiatives, citing high costs and potential economic risks.
Switzerland holds national referendums four times a year which allow citizens to participate directly in shaping the country’s policies.
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