Swiss voters on Sunday overwhelmingly rejected a proposed 50% tax on inherited fortunes of 50 million francs ($62 million) or more, with 78% of votes against the plan, which surpassed the two-third opposition indicated in polls.
Bankers have watched the vote closely, casting it as a litmus test of appetite for wealth redistribution in Switzerland, as other countries, such as Norway, have beefed up their wealth tax or debated similar moves.
Switzerland
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