Swiss voters are leaning against a new 50% inheritance tax on fortunes above 50 million francs ($62.5 million), a poll shows. The proposal, designed to raise 4 billion francs annually for climate action, is backed by youth activists but opposed by business leaders.
Supporters argue that the richest should bear more of the cost of the climate crisis. “The 10 richest families cause as many emissions as 90% of the population,” said Mirjam Hostetmann of the JUSO. They believe the new tax could make climate funding fairer.
Opponents, including government officials and major investors, say the move would push the wealthy out of Switzerland, weaken investment, and reduce long-term tax revenue. Finance Minister Karin Keller-Sutter called it a threat to Switzerland’s economic strength. “It would greatly reduce Switzerland’s attractiveness for wealthy individuals and hurt the broader economy,” she said.
The November 30 vote will test how far Swiss citizens are willing to go to balance fairness, economic stability, and environmental responsibility. The result could echo across Europe as nations seek new ways to finance climate action without deepening social divides.
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