Overview
- The initiative, branded “For the Future” by the Young Socialists, proposed a 50% federal levy on inheritances and donations above CHF 50 million to finance climate policy.
- Voters turned it down by 78.28% No with 43% turnout, failing to secure both the popular and cantonal majorities required for a constitutional change.
- The measure would have allocated two-thirds of revenue to the Confederation and one-third to the cantons, applying to an estimated 2,500 ultra‑wealthy individuals.
- The government and parliament opposed the plan, warning of capital flight, discouraged relocations to Switzerland, and reduced income and wealth‑tax receipts.
- Finance Minister Karin Keller-Sutter called the verdict clear and said Switzerland will maintain roughly CHF 2 billion a year in climate spending toward its 2050 net‑zero goal.