Home Media Corner Media Releases Young Socialists initiative set to destroy family companies: Swissmem says No
Contact Person  Noé Blancpain Noé Blancpain
Head of Communications and Public Affairs
+41 44 384 48 65 +41 44 384 48 65 n.blancpainnoSpam@swissmem.ch
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Young Socialists initiative set to destroy family companies: Swissmem says No

At its meeting on 8 May 2025, the Swissmem Council was unanimous in its decision to say “No” to the Young Socialists’ initiative for an inheritance tax, and is now preparing for an important referendum battle. This initiative would destroy family-owned companies and cause huge tax losses – it must be emphatically rejected. The Swissmem Council also considered the effects of the US tariffs on the Swiss tech industry. The association continues to inform and advise its members intensively in order to support them during this challenging time.

The Young Socialists aim to introduce an inheritance tax of 50% on assets exceeding CHF 50 million. This would effectively lead to the expropriation of many family-run SMEs. A large number of these SMEs have been built up by the owning families over generations, provide tens of thousands of jobs, and pay taxes reliably. If this initiative is adopted, they would have to sell their companies – quite possibly abroad – in order to pay the new inheritance tax. It would result in companies moving away, as well as huge tax losses, which would primarily have a negative impact on mid-sized companies. Swissmem rejects this radical initiative and will vehemently oppose it.

Discussion on the US tariffs

With a 14.8% share, the USA is the Swiss tech industry’s second-largest sales market (after the EU at around 55%). Additional tariffs of 31% would have a drastic impact on companies that are already experiencing a persistently tense economic situation – if their products are non-essential, these companies stand to lose an important sales market. Despite the reduction in additional tariffs to 10% for 90 days, orders have already been cancelled or suspended, while the global uncertainty caused by the unclear situation is also having a negative effect.

Policymakers face challenges – Swissmem supports member companies

Alongside the diplomatic activities with the aim of at least reducing the tariffs, the Swiss government is also facing challenges on two other fronts: On the one hand, it needs to facilitate access to other markets – by means of new free trade agreements and updates to existing agreements. In terms of domestic policy, decisive efforts must also be made to reduce bureaucracy and lower costs in order to smooth the way for companies. Swissmem is also calling on the government to extend short-time working to 24 months in order to create planning certainty and prevent redundancies.

The need for information and advice from Swissmem’s over 1,400 member companies is huge. The tech industry association is providing comprehensive support to these companies: 

  • with regular webinars with over 400 participants and both national and international experts
  • with detailed written documents on the Extranet
  • through individual clarifications on the extent to which individual product categories are affected, or by answering questions on customs clearance, for example
  • with legal advice for employers on questions regarding short-time working or redundancies 
     

For further information please contact: 

Noé Blancpain, Head of Communications and Public Affairs
Tel. +41 44 384 48 65 / mobile +41 78 748 61 63
E-mail n.blancpainnoSpam@swissmem.ch 

Philippe Cordonier, Head of Swissmem Romandie
Tel. +41 44 384 42 30 / mobile +41 79 644 46 77
E-mail p.cordoniernoSpam@swissmem.ch 

Last update: 08.05.2025