Train manufacturer

Stadler Chairman Spuhler Expects a "No" Vote on the 10-Million Initiative

Peter Spuhler, Chairman of the Board of Directors at Stadler Rail, opposes the SVP’s “No to a 10-Million-Switzerland” initiative and expects a narrow “no” vote at the ballot box. (File photo)

Keystone

Stadler Rail Chairman Peter Spuhler warns against a “yes” vote on the “No to a 10-Million-Switzerland” initiative. He expects it to be rejected at the polls and sees the bilateral agreements with the EU at risk.

Keystone-SDA

10.06.2026, 17:07

Stadler Rail Chairman of the Board Peter Spuhler expects the SVP’s “No to a 10-Million-Strong Switzerland” initiative to be rejected at the polls next weekend. “I believe there will be a narrow ‘no’ vote and that the initiative is likely to fail due to the majority of cantons,” the entrepreneur said Wednesday during a panel discussion at the annual conference of the Swiss Trade Association.

He himself will vote “no,” the head of the Eastern Swiss train manufacturer added.

In its text, the SVP calls for strict immigration controls to ensure that Switzerland’s permanent resident population does not exceed 10 million by 2050. Measures would then have to be taken if the population exceeds the 9.5-million mark. As a last resort, the Federal Council would have to terminate the agreement on the free movement of persons with the EU.

“I consider this a very dangerous path,” said Spuhler, who previously served in the National Council for the SVP. It could have been handled more skillfully. Switzerland could activate a clause in the Agreement on the Free Movement of Persons to limit immigration, for example, from 80,000 to 40,000 people from the EU per year.

Termination of the Bilateral Agreements Unlikely

“Then we could elegantly pass the ball back to the EU,” said Spuhler. He does not believe that the unanimity of all 27 EU member states—which would be necessary to terminate the bilateral agreements with Switzerland—would be achieved. “That way, we could skillfully get the bilateral agreements through.”

“We need a regulated relationship with the EU. And for now, we can continue to live with the bilateral agreements,” said Spuhler.

Many EU member states would not adhere to the free movement of persons either. There are countries that would close their borders, others that would reduce immigration, or demand different regulations.

“The Swiss are once again the best Europeans and are leading the way. In doing so, we risk losing the bilateral agreements. That simply cannot happen,” said Spuhler.