Overview of the federal votes on 8 March 2026 Future-proofing the availability of cash The “Cash is freedom” initiative requires the federal government to ensure that coins and banknotes are always available in sufficient quantities. Cash gives us freedom and safeguards our privacy, the authors of the initiative argue. The Federal Council and parliament reject the initiative and prefer a more moderate counterproposal (see “Swiss Review” 5/2025). Less money for the Swiss Broadcasting Corporation The “CHF 200 is enough!” initiative submitted by the SVP and the Young Liberals aims to reduce the annual Swiss television and radio licence fee from 335 to 200 francs per household and exempt companies from the levy entirely. See our lead article (page 4). Investing more in climate action The “Climate Fund Initiative” wants Switzerland to do more to fight climate change (see adjacent article), creating a fund that would be replenished with annual contributions of 0.5 to one per cent of GDP, and using this money to invest several billions of francs every year in a low-carbon future for transport, buildings and the economy. Abolishing the “marriage penalty” Every person should be taxed individually regardless of their marital status, say the Federal Council and a majority in parliament, who want to abolish the so-called “marriage penalty” and have approved the new Federal Act on Individual Taxation for this purpose. Married couples are taxed jointly at present, which can lead to a higher tax burden compared to unmarried households when both incomes are added together. This was ruled unconstitutional by the Federal Supreme Court back in 1984. The FDP, SP, Greens and Green Liberals support the bill. But the Centre, EVP, SVP and EDU oppose it, warning of new tax inequities. The cantons fear a sharp fall in tax revenue. Opponents of the initiative warn against putting additional strain on the federal coffers when money is already tight. They complain that the proposed expenditure would not be subject to the mechanisms designed to curb government debt. “This would mean saddling future generations with a mountain of debt,” says National Councillor Andri Silberschmidt (FDP). It would be the opposite of sustainable. Silberschmidt warns of inefficiencies that would see subsidies often going to projects that would have been undertaken anyway. Take oil-fired heaters, for example – these now tend to be replaced by heat pumps. Rarely do state subsidies bring about fundamental changes in behaviour, he argues. National Councillor Nicolò Paganini (Centre): “The initiative replaces real impact with symbolism, fiscal discipline with autopilot, and democratic oversight with open-ended mandates.” The state “must step up” Climate change is an established reality in Switzerland, say the authors of the initiative, citing the natural disasters in Gondo (Valais), Ticino, Brienz/Brinzauls (Grisons), and, most recently, Blatten (Valais). “We humans are the ones who will suffer,” proffers Katharina Prelicz-Huber of the Greens. Nature will get by somehow, but people will lose their livelihoods – and their lives. SP National Councillor Gabriela Suter believes the state must step up and invest in protecting the interests of future generations: “Only through foresighted measures can we ensure a bright future for our descendants.” Marc Jost of the EVP agrees. Switzerland is not doing enough to become carbon-neutral and meet its international obligations, he says. “We can “The initiative replaces real impact with symbolism, and democratic oversight with open-ended mandates.” Nicolò Paganini (Centre) on voting against the initiative “We can no longer afford to maintain the status quo. It will be more expensive if we miss our climate goals.” Marc Jost (EVP) on voting in favour of the initiative no longer afford to maintain the status quo.” It is important for the state to avoid taking on additional debt, but it will be more expensive if we miss our climate goals, he says. If voters approve the initiative, the new climate fund will be available from 2029. Swiss Review / February 2026 / No.1 21
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