Switzerland voters reject $2,555 monthly basic income plan

Switzerland voters reject $2,555 monthly basic income plan

A proposal that would have seen every adult in Switzerland get a guaranteed income of $2,500 Swiss francs ($2,520) after tax every month has been rejected.

Switzerland voters reject $2,555 monthly basic income plan

Under the plan each citizen would have received an equal monthly payment, regardless of their circumstances

The money would have been paid to eligible citizens, regardless of their employment status or wealth.

The plan was, however, rejected overwhelmingly in a referendum by Swiss voters on Sunday.

About 77% of voters were against the measure, which lost by at least 10 percentage points in all of the country's 26 districts, according to a report by the CNN.

Supporters of the bill had argued, according to the BBC, that work was increasingly becoming automated in Switzerland and that there were fewer jobs for workers.

They stated that 50% of work done was community work that was unpaid and that basic income for all would make those jobs more valued.

Those who opposed the bill also stated that giving a guaranteed income of $2,520 every month to citizens would cause millions of people to migrate to Switzerland from across the world.

The Swiss government had also opposed the plan on the grounds that it would have cost 25 billion Swiss francs a year finance it.

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