The setback is clearer than expected: the Swiss population refuses to abolish stamp duty by 62.7% of the vote. The no crosses almost the whole country: no canton except Zug (51.1%) has achieved a majority in favor of this tax reform, as well as several municipalities, in particular in the outskirts of Geneva and Zurich, which voted yes. Having gone into battle alone, with no other support than that of the unions and the Evangelical Party, the left triumphed. The political and economic right as well as The Center failed to explain that this reform was essential to support companies using equity to finance themselves and to develop start-ups in Switzerland.
