Durban, South Africa – Commenting on the outcome of the G20 3rd Finance Ministers and Central Bank Ministerial Meeting, Greenpeace welcomed the G20 ministers’ support for international tax negotiations at the United Nations. However, Ministers did not reference the proposal introduced under Brazil’s G20 presidency last year to tax the ultra-rich.[1]
Fred Njehu, Global Political Lead of the Fair Share campaign, Greenpeace Africa, said: “This show of support for the UN Tax Convention is a welcome step in the right direction for new global tax rules that work for everyone, not just the select few. The G20 must now put words into action and engage constructively in the process as a global multilateral platform that will shape and determine the future of taxation, one rooted in equity, transparency and justice.
“However, the G20 Finance Ministers are squandering an incredible opportunity to end financial apartheid and achieve a breakthrough on wealth taxation that could redistribute much needed funds to tackle the social, economic, environmental and climate polycrisis. Equality is not the accumulation of wealth and power in the hands of a few billionaires. We need to stand up to the power of billionaires who are a threat to our democracies, security and wellbeing.[2]
“Turbulent economic times like these demand global cooperation and a multilateral response. G20 ministers have an historic obligation to help steer the global economy and environment towards safer waters. They must listen to growing public calls and build the political momentum for taxing the super-rich and set new global tax rules that work for all to achieve social and climate justice.”
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Notes:
[1] New global tax rules in an UN Framework Convention on International Tax Cooperation are being negotiated, from now until 2027. It is a historic opportunity to redistribute power and wealth, and foster tax transparency and accountability. It aims to take control of global tax rules from the rich OECD (Organisation for Economic Cooperation and Development) countries to place it in the hands of the 193 member states of the United Nations.
[2] Greenpeace: Ramaphosa, G20 must end financial apartheid with tax on super-rich
Contacts:
Ibrahima Ka Ndoye, International Communications Coordinator, Greenpeace Africa. +221778437172, [email protected].
Greenpeace International Press Desk, +31 (0)20 718 2470 (available 24 hours), [email protected]
