The Federal Council has launched its campaign against the Socialist Youth’s “For the Future” initiative, which will be voted on November 30.
The proposal calls for a 50% tax on inheritances and gifts above CHF 50m to fund climate action and reduce inequality.
The government warns the plan could drive away wealthy residents and cause tax losses. It argues the text violates cantonal autonomy, fails to ensure stable funding, and goes against the polluter-pays principle.
But the initiators say the tax would bring in CHF 6bn a year and help finance an ambitious climate policy while curbing wealth concentration.
They add their proposals includes measures against capital flight, such as a capital exit tax.
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