1:12 Initiative Referendum Fails

Dec. 6, 2013, 11:15 a.m.

In the fourth round of nationwide referendums and citizens’ initiatives of 2013, Swiss voters cast their votes on three questions. The first question regarded the pay to company executives, capping their salaries at no more than 12 times the salary of the lowest paid employee in the company. The vote failed with 955,155 Swiss voting in favor (34.70 percent) of the citizen’s initiative. The vote on capping executive pay, followed a vote in March that successfully changed the laws on executive pay in Switzerland. The second referendum was on the implementation of a constitutional amendment to give tax credits for stay-at-home parents equal to those who send their children to daycare. This referendum also failed, with 41.50 percent (1,139,743 voters) in favor of the measure. The final referendum involved raising the annual fee for the motorway tax (Vignette) from 40 Francs to 100 Francs. As with the other referendums, this too failed with only 1,087,350 votes in favor (39.50 percent).

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