On June 5, Switzerland will take a radical economic decision on whether or not its citizens and legal residents should get a guaranteed income.
Supporters of the proposal unload a truckload of coins on a street in Bern. Stefan Bohrer / Wikimedia Commons
This means that anyone earning USD 1,500 per month will get USD 1,100 more from the government bringing his minimum income to USD 2,600. If a person does not earn any income, only then will he be granted the entire amount.
Swiss regulations stipulate that for any proposal to be opened to the people for voting must first obtain at least 1 lakh signatures.
Backers of the minimum income proposal during a campaign. Denis Balibouse/Reuters
But this overtly socialist policy is finding many critics in the Alpine country.
The government has already warned the people that there will be increase in taxes if the proposal gets a green signal.
Moreover, the Swiss are generally hardworking people and are not inclined to stop working irrespective of what the proposal’s fate is. Surveys have indicated that there is, however, a small percentage of people who might not work at all.