Swiss voters have rejected a proposal to create what would have been the world’s highest minimum wage after siding with the government and business leaders in a referendum.
That should read “…after siding with the government, business leaders, and those Swiss people who could least afford to be unemployed.”
The plan, which would have pushed up the basic annual salary for a 35-hour week to £27,000, was rejected by 75% of voters. It would have required employers to pay workers a minimum of 22 Swiss francs (£14.66) an hour.
Government ministers opposed the proposal, made by the Swiss Federation of Trade Unions and supported by the Socialist and Green parties, arguing that it would put smaller companies out of business.
Fortunately for some of the poorest Swiss people, their so-called protectors overreached themselves.