Federal popular initiative "No speculation with food!"

The federal popular initiative "No speculation with food!" is a popular initiative of the Young Socialists (JUSO) that was voted on on February 28, 2016. The initiative was rejected by the people and the cantons.

initiative

submission

The initiative was submitted on March 24, 2014 with 115,942 valid votes.

content

The popular initiative called for certain speculative transactions in financial instruments relating to agricultural products to be banned. The federal government should also work to combat such transactions at the international level. The initiators wanted to limit speculative transactions in food and achieve more stable prices on the international agricultural markets. In particular, this should improve the food situation in developing countries.

text

I
The Federal Constitution will be amended as follows:

Art. 98a (new) Combating Speculation in Agricultural Raw Materials and Food
¹ The Confederation shall issue regulations to combat speculation in agricultural raw materials and food. He observes the following principles:
a. Banks, securities dealers, private insurance companies, collective investment schemes and their persons involved in the management and asset management, social security institutions, other institutional investors and independent asset managers with their registered office or branch in Switzerland may not invest in financial instruments either for themselves or for their clients, either directly or indirectly investments related to agricultural commodities and food. The same applies to the sale of corresponding structured products.
b. Contracts with producers and traders of agricultural raw materials and foodstuffs to secure deadlines or prices for certain delivery quantities are permitted.
² The Confederation ensures that the regulations are effectively enforced. He observes the following principles:
a. Supervision as well as criminal prosecution and assessment are a matter for the federal government.
b. Wrong companies can be punished directly regardless of organizational deficiencies.
³ At the international level, the federal government works to ensure that speculation in agricultural raw materials and food is effectively combated worldwide.

II
The transitional provisions of the Federal Constitution are changed as follows:

Art. 197 no. 10 (new)
10. Transitional
provision to Art. 98a (Combating Speculation in Agricultural Raw Materials and Food) If the relevant statutory provisions do not come into force within three years of the adoption of Article 98a by the people and the cantons, the Federal Council shall issue the necessary implementing provisions the ordinance; these apply until the statutory provisions come into force.

argumentation

Per

The Young Socialists and supporters of the initiative believe that speculation in food drives food prices up even further. It is argued that these high prices, caused by speculation, lead to an increase in world hunger and should therefore be banned. Pure futures and trading in agricultural raw materials would still be allowed. However, investors and speculators from outside the industry are to be excluded from the futures markets.
Jean Ziegler , in his role as UN special rapporteur on the right to food, supports the adoption of the initiative. He sees speculation as not the only but the most important reason for rising food prices.

Contra

The opponents of the initiative consider the ban to be the wrong approach. It is argued that speculation in food does not, or hardly, drive prices up. It is assumed that speculation in food will have a positive impact on the market and even stabilize the prices of staple foods.

Referendum

The Federal Council and the Federal Assembly recommended the people and the cantons to reject the initiative.

The Swiss voters voted on the initiative on February 28, 2016. The initiative was rejected by a majority of 59.9% of those who voted. The majority of the cantons also voted against it. Only in the cantons of Basel-Stadt and Jura was there a narrow majority in favor of the initiative.

Results by canton

Yes (1 1/2 stalls)

No (19 5/2 stands)

Canton	Yes (%)	No (%)	Participation (%)
Aargau	37.6	62.4	64.3
Appenzell Ausserrhoden	38.4	61.6	66.6
Appenzell Innerrhoden	32.6	67.4	59.6
Basel-Country	40.4	59.6	63.4
Basel city	50.4	49.6	66.6
Bern	41.6	58.4	61.0
Freiburg	40.1	59.5	63.6
Geneva	45.5	54.5	55.4
Glarus	37.5	62.5	57.9
Grisons	38.1	61.9	61.0
law	50.5	49.5	55.3
Lucerne	35.9	64.1	68.0
Neuchâtel	45.6	54.4	57.6
Nidwalden	30.8	69.2	73.6
Obwalden	31.5	68.5	73.6
Schaffhausen	44.0	56.0	75.8
Schwyz	33.4	66.6	68.9
Solothurn	40.2	59.8	64.1
St. Gallen	37.3	62.7	62.5
Ticino	41.8	58.2	68.0
Thurgau	38.3	61.7	59.7
Uri	35.8	64.2	73.3
Vaud	43.5	56.5	58.5
Valais	36.1	63.9	63.3
train	32.1	67.9	69.9
Zurich	40.4	59.6	65.0
Swiss Confederation	40.1	59.9	60.16

Web links

• Initiative committee website
• Chronology of the initiative , website of the Swiss Federal Chancellery
• Explanations of the Federal Council (voting booklet ) PDF file
• Dispute on Food Speculation: Controversial Remedy for Hunger. Neue Zürcher Zeitung , article from February 5, 2016, accessed online on February 6, 2016.

Individual evidence

1. ↑ Communication from the Federal Chancellery of April 17, 2014.
2. ^ Federal Council Message of February 18, 2015.
3. ^ Voting arena: Initiative against food speculation , Swiss radio and television SRF . Broadcast on January 15, 2016, accessed online on February 6, 2016.
4. ↑ J ean Ziegler: "speculators kill millions" . Aargauerzeitung from January 16, 2016, accessed online on February 6, 2016.
5. ^ Voting arena: Initiative against food speculation , Swiss radio and television SRF . Broadcast on January 15, 2016, accessed online on February 6, 2016.
6. ↑ Federal Decree of September 25, 2015.
7. ^ Voting documents for February 28, 2016. In: Website of the Federal Chancellery . October 7, 2015 (press release).
8. ↑ Preliminary official final results In: Website of the Federal Chancellery . Retrieved March 5, 2016.