Skip to content
Subscriber Only

Swiss Keep Corporate Allure as Basic Income, Pay Curbs Defeated

  • Voters dismissed popular initiatives at Sunday’s ballot
  • Referendums are part of Switzerland’s direct democracy
Swiss Government Cuts Growth Forecast
Photographer: Gianluca Colla/Bloomberg
Updated on

The Swiss rejected two popular initiatives that constituted the latest threat to the country’s business-friendly environment.

Voters dismissed a measure that would have reduced the pay of Swisscom AG’s chief executive officer by three quarters and also shot down a proposal to establish a universal basic income, the federal chancellery said on Sunday. While surveys indicated the latter would fail, the outcome of the former -- the so-called Pro Service Public initiative -- had been considered too close to call.