Switzerland: On 24 November 2013 Swiss voters will decide whether to cap the highest wages given in a company at 12 times the lowest pay. Swiss corporations and the government have joined forces to oppose the '1:12 Initiative', which is forecast to be rejected.

"When you read the text of the proposal, it's very simple, very clever, very misleading. You would never go to the US and think: how much can I pay people now? You pay whatever you need to pay in order to attract them," said Thomas Aebischer, CEO of Holcim. "This is a disaster for this country. It's a real risk and a real danger for Switzerland remaining an attractive place to do business."

The pay scale at Holcim underscores the challenge for multinationals if they were to comply with the proposed rule. Bernard Fontana, Holcim CEO, received a base salary of Euro1.42m in 2012, 35 times the lowest-paid employee.

Executive payouts have ballooned in recent years while company profits have slumped and taxpayers bailed out Switzerland's largest bank, UBS. This has led to calls for a more equal distribution of wealth.