Swiss Climate Activists Target the Rich With New Tax Proposal - Bloomberg
Swiss Climate Activists Target the Rich With New Tax Proposal - Bloomberg
Swiss Climate Activists Target the Rich With New Tax Proposal
- Young Socialists want inheritance tax to fund climate action
- Campaigners claim enough signatures to hold national vote
Swiss Parliament in Bern. Photographer: Fabrice Coffrini/AFP/Getty Images
Switzerland’s Young Socialists said they’ve collected enough signatures for a national vote on a new tax on the wealthy to cover climate change costs.
The group — the youth organization of the Social Democrats, Switzerland’s second-largest party — has proposed a 50% tax on inheritances exceeding 50 million francs ($59 million). According to a statement on Wednesday, this would generate around 6 billion francs a year for climate protection measures.
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Swiss Climate Activists Target the Rich With New Tax Proposal
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