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Swiss Back More Green Energy, Reject Health-Insurance Cap

(Bloomberg) — Swiss voters backed a government plan to boost domestic renewable energy, a decision that will make the construction of solar and wind plants in the Alps easier and ensure continued subsidies.

The proposal was approved by 69% of voters, the government said Sunday. Switzerland’s biggest political group, the right-wing Swiss People’s Party, had challenged the bill via a referendum after it was passed by parliament.

In a separate vote on Sunday, Swiss electors turned down a plan of the Social Democrats to cap personal spending for health insurance, saving the budget from a hit of as much as $5 billion per year.

Polling in the run up to the vote had suggested passing the measure would be a close call. Many voters had cited the additional fiscal expenditure as a reason for skepticism. A successful plebiscite earlier this year to raise pensions has already left the government struggling to find funding, with an increase of value-added tax now a likely options to secure the money.

Two other proposals on the ballot also produced expected results. A Covid-era initiative to prevent vaccinations from ever becoming mandatory was rejected, as was a plan that would have seen fewer health treatments covered by mandatory insurance.

(Updates with final results)

©2024 Bloomberg L.P.

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