CBC News reports:
Swiss voters have overwhelmingly rejected a proposal to introduce what would have been the highest minimum wage in the world in a referendum.
The minimum wage proposal was rejected by 76% of voters. Supporters had argued it would "protect equitable pay" but the Swiss Business Federation said it would harm low-paid workers in particular.
“It is a clear vote by the people, a vote of trust in the economy,” Hans-Ulrich Bigler, director of the Swiss trades association, told Swiss television.
The measure would have affected around 300,000 people – around 10 percent of the population – many of whom are in agricultural or service work.
Government ministers fought against the measure, however, and insisted that it would damage the economy, running small companies out of business and making it harder for young people to find employment.
“A minimum wage won’t stop poverty,” Economic Minister Johann Schneider-Ammann told The Christian Science Monitor. “This system would be counterproductive.