Swiss vote to abolish tax breaks for rich losing impetus

Geneva

THE rain lashing Geneva's chic Rue du Rhone couldn't drown out calls by Swiss campaigners for the abolition of a 152-year-old tax break for rich foreigners. Members of the Socialist Party have lampooned a system that allows foreigners to duck income tax by negotiating lump-sum payments with Swiss cantons.

The latest poll shows the protesters may be losing the fight before a Nov 30 national referendum on the tax regime known as the forfait. Bankers and the g…