Swiss farmer turns down £20 million offer for his land...

A Swiss farmer who owns 45 cows and a cherry orchard has turned down a £20 million offer for his land in part of a growing backlash against the influx of foreign investment to an already affluent corner of the country.

Philip Freimann lives in Zug, the richest canton of Switzerland, one of the richest countries in the world, but he had no hesitation in deciding that he did not want to see apartment blocks built on his fields.

"I'm healthy and I can work, what more do I need?" Mr Freimann, 36, told Bloomberg News.

"The boom in Zug has reached its limits. Zug doesn't belong to the Zugers anymore." Low corporate tax rates have attracted nearly 30,000 companies to the canton in recent decades, pushing up the price of houses and filling the local shops, cafes and restaurants with foreign residents.

 While the boom has brought wealth to the canton, locals are beginning to feel swamped by the influx of outsiders. Full story...

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