| Author (Corporate) | BBC |
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| Series Title | BBC News |
| Series Details | 24.11.13 |
| Publication Date | 24/11/2013 |
| Content Type | News |
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Swiss voters rejected a proposal in a referendum on the 24 November 2013 that would have limited executive pay to 12 times that of the lowest paid. The referendum saw 65.3% vote against the plan with 34.7% in favour. Switzerland is home to a range of giant businesses, including pharmaceutical companies Novartis and Roche, the insurance groups Zurich and Swiss Re and the banks UBS and Credit Suisse. The rules would have given Switzerland the world's toughest pay rules and some of the lowest executive salaries. Business leaders said that would limit foreign investment and the government was also opposed to the proposal. In a separate vote on the 24 November 2013 Swiss voters shunned a proposal to grant a tax break to families that look after their children at home. Currently, only parents who send their children to daycare were allowed to make a deduction from their income taxes. |
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| Source Link | Link to Main Source http://www.bbc.co.uk/news/business-25076879 |
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| Countries / Regions | Switzerland |
