After Swiss voters rejected a proposal to introduce a 50% tax on inheritances over CHF50 million, Swissinfo readers began debating whether taxing the wealthy drives them abroad, with some even claiming this is already happening in countries such as Norway and the UK. We took a closer look. The “For a social climate policy” initiative, launched by the youth section of the left-wing Social Democratic Party (JUSO), proposed a 50% tax on any inheritance or gift worth more than CHF50 million ($63 million). The revenue was to be earmarked for tackling climate change. The proposal was based on the belief that the very wealthy, whose lifestyles have a greater impact on global warming, should contribute more to climate protection. But the initiative was rejected by 78.3% of Swiss voters, with fears that the super-rich would leave the country helping to tip the balance. Switzerland’s super-rich warn they may leave The “No” camp included several high-profile figures. Peter Spuhler, owner of ...
