There had, in some circles anyway, been some excitement over a referendum last Sunday on whether Switzerland — Switzerland — should introduce a federal death tax (some cantons and municipalities do impose them, albeit at low levels). But it was not to be. The spirit of William Tell, no friend — or so the story goes — of oppressive taxation, lives on.

Seventy-nine percent of those voting rejected a proposed 50 percent death tax on estates worth above CHF 50m (approximately $63 million), an idea put forward by the country’s Young Socialists. As is so often the way these days, the red came wrapped in green (the money raised was to have gone on “climate-related” spending), but this does not seem to have made much difference.

Interestingly, and running contrary to much of today’s egalitarian narrative, this death tax was rejected by a larger majority than was a 2015 proposal that would have hit far smaller estates (above CHF 2 million), albeit at a lower rate (20 percent) than was proposed this time around. The earlier attempt at a death tax was turned down by a mere 71 percent of those voting.

Meanwhile (via the Daily Telegraph):

Young workers are fleeing Labour’s high-tax Britain, with under-35s leading a near-record exodus.