The proposal was widely anticipated to fail, with recent polls indicating that more than two-thirds of respondents were against the measure.
Switzerland, November 30, 2025, BNN Web Staff: Switzerland on Sunday decisively rejected a proposed 50% tax on inherited fortunes of 50 million Swiss francs ($62 million) or more, according to a first results estimate by public broadcaster SRF, with roughly 79% of voters expected to oppose the plan.
The initiative, put forward by the youth wing of the leftist Social Democrats (JUSOs), aimed to raise funds for climate change mitigation projects.
However, the proposal was widely anticipated to fail, with recent polls indicating that more than two-thirds of respondents were against the measure.
The vote drew significant attention from bankers and economists, who viewed it as a litmus test for public appetite for wealth redistribution in Switzerland, particularly as other countries, such as Norway, have recently strengthened or debated wealth taxes.
Switzerland, known for some of the world’s most expensive cities, has seen growing political concern over the rising cost of living.
Critics of the inheritance tax warned that it could prompt wealthy individuals to leave the country, potentially reducing overall tax revenues. The Swiss government also urged citizens to vote against the measure.
