Swiss climate activists propose new tax targeting the rich

“Those who for decades have been jeopardizing our natural resources for their profits should pay the price,” the campaigners said on their website. 

“Our initiative ensures that the climate crisis is paid for by those who profit from it!”

The group has gathered over 130,000 signatures and plans to submit them to federal authorities in early February. 

Once officially certified, this will lead to a plebiscite after government and parliament review the issue. 

The complete process usually takes several years.

Expressing concern over the proposed tax, right-wing lawmaker Thomas Aeschi argued that it could drive wealthy citizens away, prompting them to leave the country to evade the tax. 

Referring to the situation in Norway, he mentioned a similar scenario where the country experienced an exodus of millionaires after increasing wealth taxes.

The ongoing debate in Switzerland revolves around finding suitable methods to tax the wealthy. 

In June, a slim majority of voters in Geneva rejected a proposed wealth tax increase for millionaires, and in a 2015 plebiscite, a federal inheritance tax was also unsuccessful. 

Presently, the taxation of inheritances is determined at the local level by the country’s 26 cantons.

In Switzerland’s system of direct democracy, citizens participate in frequent votes on various topics, spanning from cattle farming to the cash supply. 

Although citizens can significantly impact public discourse, not all proposals reach the ballot box. 

Frequently, lawmakers preemptively pass laws if they anticipate majority voter support.