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Switzerland says "No" to immigration limit

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By Euronews
Switzerland says "No" to immigration limit

<p>Switzerland appears to have overwhelmingly rejected a proposal to limit immigration to 0.2 percent of the population. Initial projections indicate that almost three-quarters of voters disagreed.</p> <p>The measure would have seen net immigration fall from around 80,000 to 16,000 people per year.</p> <p>The referendum included two other proposals, which also appear to have been rejected by a large margin.</p> <p>One would have forced Switzerland’s Central Bank to boost gold reserves to 20 percent from the present eight percent. That would have meant buying the precious metal on the markets. </p> <p>The other would have scrapped certain tax advantages for wealthy foreigners. </p> <p>But it was the immigration proposal that was the most controversial. Some perceive high levels of foreigners in the country as a dilution of Swiss values, but others argue that drastic limits would be bad for the economy by reducing skilled labour.</p>