Economics

Swiss Voters Reject Strict Immigration Limits in Referendum

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Swiss voters rejected a referendumBloomberg Terminal to introduce strict immigration quotas, a step that would have risked choking off economic growth and souring foreign relations.

Voters turned down the initiative known as Ecopop by 74 percent to 26 percent, the government said. The measure “Halt Overpopulation -- Preserve the Natural Environment” would have limited annual immigration to just 0.2 percent of the country’s permanent resident population. PollsBloomberg Terminal had forecast the initiative’s rejection. Voters also turned down a measure requiring the Swiss central bank to hold a fixed portion of its assets in goldBloomberg Terminal and one that would’ve abolished the tax privileges accorded to wealthy foreigners.