Switzerland faces uncertainty after tax plan rejected

Switzerland faced uncertainty Monday after voters rejected a tax reform plan aimed at keeping the country attractive to foreign businesses but derided by critics as a corporate handout. The wealthy Alpine nation had come under intensifying pressure from the Organisation for Economic Cooperation and Development (OECD) over a tax regime that treats foreign companies more favourably than domestic ones. The OECD has called the Swiss system harmful and said it fuels market distortions.