Swiss voters reject world's highest minimum wage
About 77 percent of voters in the wealthy nation dismissed the proposal made by Swiss union SGB and backed by the Socialist and Green parties, a national projection for Swiss SRF television showed, while 23 percent were in favour.
Economically liberal Switzerland does not currently have a nationwide minimum wage. Pay is determined by individual employment contracts or via collective bargaining agreements, some of which also set industry-specific minimum wages.
The Swiss also vote on Sunday on a deal to spend $3.5 billion buying 22 Gripen fighter jets from Swedish aerospace group Saab requiring spending cuts elsewhere, such as on education. First projections showed voters remained divided over the purchase, with 51 percent opposed and 49 percent in favour. ■