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I think it's worth explaining how swiss legislation works. There are several ways to propose a new law, one of which is for enough citizens to petition, which l

I think it's worth explaining how swiss legislation works. There are several ways to propose a new law, one of which is for enough citizens to petition, which leads to a referendum style vote. The basic income vote followed this process, and though it gathered enough interest to warrant people voting on it, it has little chance of passing. Interestingly a similar vote recently passed which limited the income in a company to a factor of 12 (i.e: the CEO can not make more than 12 times the lowest salary of his company) which wasn't expected of switzerland (a rather liberal and conservative country)

psuter 13y ago
The 1:12 project is at the same stage as the basic income one: up for referendum. Latest polls showed people were still undecided (vote is at the end of November).
- riffraff 13y ago
  I was under the impression the 1:12 vote already happened and was voted with an overwhelming majority, e.g. http://www.bbc.co.uk/news/world-europe-21647937 http://www.bbc.co.uk/news/world-europe-21647937 http://www.economist.com/blogs/schumpeter/2013/03/switzerland%E2%80%99s-vote-executive-pay http://www.economist.com/blogs/schumpeter/2013/03/switzerlan... Could you explain the discrepancy ?
  - uraza 13y ago
    From the original article: In March, Swiss voters backed some of the world's strictest controls on executive pay, forcing public companies to give shareholders a binding vote on compensation. A separate proposal to limit monthly executive pay to no more than what the company's lowest-paid staff earn in a year, the so-called 1:12 initiative, faces a popular vote on November 24. The two articles you linked to refer to the first proposal.
  - rstuder 13y ago
    This refers to another constitution change: By strengthening the control of shareholders over payout for executives, they want to stop these extremely high bonuses. So this was a much less radical law change, that the 1:12 article would be.
  - chmars 13y ago
    Your impression is wrong. The vote you are referring to was on shareholders' rights, i.e., shareholders will get more influence on the compensation of the executives of 'their' companies. The vote on the 1:12 initiative will be on November 24, 2013.

psuter 13y ago

The 1:12 project is at the same stage as the basic income one: up for referendum. Latest polls showed people were still undecided (vote is at the end of November).

riffraff 13y ago
I was under the impression the 1:12 vote already happened and was voted with an overwhelming majority, e.g. http://www.bbc.co.uk/news/world-europe-21647937 http://www.bbc.co.uk/news/world-europe-21647937 http://www.economist.com/blogs/schumpeter/2013/03/switzerland%E2%80%99s-vote-executive-pay http://www.economist.com/blogs/schumpeter/2013/03/switzerlan... Could you explain the discrepancy ?
- uraza 13y ago
  From the original article: In March, Swiss voters backed some of the world's strictest controls on executive pay, forcing public companies to give shareholders a binding vote on compensation. A separate proposal to limit monthly executive pay to no more than what the company's lowest-paid staff earn in a year, the so-called 1:12 initiative, faces a popular vote on November 24. The two articles you linked to refer to the first proposal.
- rstuder 13y ago
  This refers to another constitution change: By strengthening the control of shareholders over payout for executives, they want to stop these extremely high bonuses. So this was a much less radical law change, that the 1:12 article would be.
- chmars 13y ago
  Your impression is wrong. The vote you are referring to was on shareholders' rights, i.e., shareholders will get more influence on the compensation of the executives of 'their' companies. The vote on the 1:12 initiative will be on November 24, 2013.