Geneva voters turn down wealth tax increase for richest 1%

Geneva voters have rejected a tax hike that would've affected the richest 1% living in Switzerland's second-largest city. According to preliminary government results, the proposal to temporarily increase wealth tax from 1% to 1.5% for people owning more than 3 million francs was turned down by over 55% of voters. The measure was proposed during the COVID-19 pandemic.