Climate Federal Council warns of consequences of the Young Socialists' inheritance tax initiative
The Federal Council warns of the consequences of the Young Socialists' initiative to tax million-dollar inheritances for the benefit of the climate. In its view, the referendum could lead to lower revenues because most of the super-rich would leave Switzerland.
13.12.2024, 14:00
13.12.2024, 14:49
SDA
On Friday, the Federal Council submitted the dispatch on the popular initiative "For a social climate policy - fairly financed through taxation (Initiative for a future)" to parliament. The initiative calls for a 50 percent tax on estates and gifts of more than CHF 50 million. This money is to be invested in climate protection measures.
As already announced in May, the Federal Council rejects the initiative for numerous reasons. It also does not want a counter-proposal.
According to the Federal Council, estimates based on an expert report show that the initiative could lead to a reduction in revenue, particularly for the cantons and municipalities. Up to 98 percent of the tax base of the super-rich could therefore move out of Switzerland - with negative consequences for the economy.
