Switzerland: Referendum launched to give every citizen 7,500 francs

The Local
The Local - [email protected] • 20 Oct, 2020 Updated Tue 20 Oct 2020 18:54 CEST
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An initiative which would culminate in referendum to pay every Swiss citizen CHF7,500 has been launched in Switzerland.

Under the plan, Switzerland’s national bank would be required to pay out 7,500 francs to every Swiss citizen

Known as the ‘Helicopter Money Initiative’ (Helikopter Geld), the money would be transferred to every Swiss citizen - including children. 

Pursuant to Switzerland’s direct democracy rules, if the organisers receive 100,000 signatures, the matter will be put to a vote. 

If successful, the scheme is estimated to cost CHF45 billion. 

The money must be paid to each citizen less than a year after the referendum and will come from newly printed money, reports Swiss news outlet Watson

The money would be exempt from tax. 

The organisers argue that there are a range of positives. “Exports, interest rates, inflation and investment would rise,” report the proponents of the vote. 

The signatures must be collected by April 22, 2022. 

 

 

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