Referendum on establishing a 50% Inheritance tax by GenZ party in Switzerland

[Alonzo]

https://www.swissinfo.ch/eng/swiss-...x-referendum-spooks-swiss-super-rich/89564077

“In terms of the chance for Switzerland to attract people leaving the UK, the‌ damage has been done. The timing was terrible,” said Georgia Fotiou, a lawyer advising private‍ clients at Staiger Law. “It hasn’t stopped everyone from coming but more have chosen Italy,⁠ Greece, the United Arab Emirates and elsewhere instead.”

Peter Spuhler, owner of rolling stock giant⁤ Stadler Rail and one of Switzerland’s richest people, has publicly slammed the proposal as “a⁣ disaster for Switzerland.”

Rochat said Lombard Odier had “seen Swiss-based families that have decided not⁢ to take any risk and to relocate ahead of the vote taking place”, while overseas︀ clients had decided not to move to the country because the “extremely damaging” proposal had︁ created uncertainty ahead of the vote.

Another Zurich-based private banker said a top client had︂ relocated to Liechtenstein ahead of the vote because, even if the proposal does not pass,︃ “the uncertainty around whether there will be another one in a few years made them︄ want to move”.

Fortunately, the vast majority of swiss citizens aren't Redditors and Tiktok kids.︅

 

[Nickiee]

Honestly, this proposal looks more like a political statement than a practical tax policy. A‌ 50% inheritance tax is extreme by global standards and creates huge uncertainty for wealthy families,‍ which is why we’re already seeing relocations to countries like Italy, Greece, and the UAE.⁠ Even if the referendum fails, just the threat of such a tax damages Switzerland’s reputation⁤ as a stable wealth hub. In the long run, stability and predictability matter more than⁣ short-term populist ideas , and right now, the uncertainty is what’s hurting Switzerland the most.⁢

 

[JackAlabama]

it already is everything but a stable wealth hub, but⁢ this will take time until the world realizes it.