Swiss Back More Green Energy, Reject Health-Insurance Cap
(Bloomberg) -- Swiss voters backed a government plan to boost domestic renewable energy, a decision that will make the construction of solar and wind plants in the Alps easier and ensure continued subsidies.
Most Read from Bloomberg
Russia Is Sending Young Africans to Die in Its War Against Ukraine
Macron Gambles on Snap French Election in Bid to Stop Le Pen
Putin Is Running Out of Time to Achieve Breakthrough in Ukraine
Global Markets Rattled by Europe Political Jitters: Markets Wrap
The proposal was approved by 69% of voters, the government said Sunday. Switzerland’s biggest political group, the right-wing Swiss People’s Party, had challenged the bill via a referendum after it was passed by parliament.
In a separate vote on Sunday, Swiss electors turned down a plan of the Social Democrats to cap personal spending for health insurance, saving the budget from a hit of as much as $5 billion per year.
Polling in the run up to the vote had suggested passing the measure would be a close call. Many voters had cited the additional fiscal expenditure as a reason for skepticism. A successful plebiscite earlier this year to raise pensions has already left the government struggling to find funding, with an increase of value-added tax now a likely options to secure the money.
Two other proposals on the ballot also produced expected results. A Covid-era initiative to prevent vaccinations from ever becoming mandatory was rejected, as was a plan that would have seen fewer health treatments covered by mandatory insurance.
(Updates with final results)
Most Read from Bloomberg Businessweek
Legacy Airlines Are Thriving With Ultracheap Fares, Crushing Budget Carriers
Sam Altman Was Bending the World to His Will Long Before OpenAI
As Banking Moves Online, Branch Design Takes Cues From Starbucks
David Sacks Tried the 2024 Alternatives. Now He’s All-In on Trump
©2024 Bloomberg L.P.