Swiss voters rejected a tax on large inheritances, citing concerns over wealthy residents leaving.
Swiss voters decisively rejected a proposed 50% tax on inheritances of CHF 50 million (USD 62 million) or more on 30 November 2025, with 78% voting against it. This was higher than the two‑thirds opposition predicted in polls.
The plan, put forward by the youth wing of the Social Democratic Party (JUSOs), aimed to fund projects to address climate change. Supporters said, “The super rich inherit billions, we inherit crises.”
Critics, including the Swiss government, warned the tax could drive wealthy people out of Switzerland and reduce overall tax revenues.
Bankers viewed the vote as a test of public support for wealth redistribution, following similar debates in countries such as Norway.
