Swiss Voters Reject Inheritance Tax in Nationwide Referendum

On 1 December 2025, Swiss voters participated in a nationwide referendum on a proposed inheritance tax. 78.3 % of voters rejected the measure, and every canton also voted against it.

The 50 % tax on estates exceeding CHF 50 million was introduced by the left‑wing party The Young Socialist after gathering 100,000 signatures, obliging the government to hold a vote within 18 months. Authorities estimate that roughly 2,500 of the wealthiest individuals and 300 households with assets over CHF 200 million would be affected.

The rejection postpones the Swiss government's plan to raise revenue and address wealth inequality through inheritance taxation, as well as its climate‑financing objectives. Officials will need to explore other fiscal measures.