Switzerland holds Brexit-style referendum on capping population at 10 million
Swiss voters head to the polls in a referendum that would cap the country's population at 10 million and require renegotiation of free-movement deals with the European Union. The result could fundamentally reshape the relationship between Bern and Brussels.
Swiss voters today are heading to the polls in one of the most contentious referendums in the country's history. The initiative, backed by the SVP (Swiss People's Party), demands that the country's population not exceed 10 million by 2050 and requires the government to renegotiate the free-movement agreement signed with the EU.
The Bern government and the major industrial federations oppose the initiative. The Federal Council notes that, if adopted, the Bilateral I agreements risk being suspended, meaning the current framework with Switzerland's main trading partner, the EU, would have to be reopened. Industry warns the skilled-labour shortage would deepen further.
Supporters argue that demographic pressure on the housing market, transport infrastructure and social services must be reduced. The latest polls indicate the vote will be tight. According to France 24, it is regarded as the most symbolic direct-democracy vote in Europe since the Brexit referendum. This dispatch is not investment advice.
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