Referendum on immigration limit could threaten EU agreements and cripple economy, say Swiss businesses

Switzerland will vote this summer on a proposal from the far-right Swiss People’s party (SVP) to limit the country’s population to 10 million, a move that would threaten key agreements with the EU and, opponents say, cripple the economy.

The government said on Wednesday the referendum on the SVP’s “No to a 10 million Switzerland” initiative, which is strongly opposed by both chambers of parliament and the business and financial services community, would be held on 10 June.

The initiative would oblige the Swiss government and parliament to act if the country’s permanent population, currently 9.1 million, exceeds 9.5 million by denying entrance to newcomers, including asylum seekers and the families of foreign residents.