S&Ds call on G20 leaders to deliver on global tax justice

S&Ds call on G20 leaders to deliver on global tax justice, sustainable development, climate change, fair international trade, managing migration, empowering women and creating quality jobs, Jeppe Kofod, S&D MEP, Tax fraud,

Ahead of the two-day G20 summit starting tomorrow in Hamburg, the Socialists and Democrats call on the leaders to deliver on global challenges such as sustainable development, climate change, fair international trade, managing migration, empowering women and creating quality jobs, in line with fulfilling the UN Sustainable Development Goals. 

Bringing about global tax justice is a key priority for the S&D Group and must be an essential building block for any comprehensive strategy addressing global challenges. The EU must push for a global assets register, a global register of beneficial ownership and a co-ordinated effort to shut down tax havens and punish those who hide their wealth there.

Jeppe Kofod, S&D MEP and vice-president on globalisation, said:

“Unregulated globalisation has created enormous wealth for multinational corporations and some individuals but has failed too many ordinary workers and families. The world’s eight richest people are now wealthier than half of world’s population, while ordinary workers too often face unfair competition and middle-class families are seeing their wages stagnate. The scandal of tax fraud and tax evasion aggravates this situation even further. It is high time the benefits of globalisation are more widely and fairly shared to tackle this growing inequality.

“We call on the G20 leaders to deliver on global tax justice. Tax fraud is cheating European countries and citizens out of money we need to provide our children with a good education and take care of our elderly citizens. The EU must push for a global assets register to facilitate the tracing and recovering of taxable assets; a global register of beneficial ownership so that tax fraud can be revealed; and a co-ordinated effort to stamp out tax havens.”

“At a time when others are disengaging from the world, the EU is called upon to take on a global leadership role to defend democracy and human rights, step up the fight against climate change and poverty, ensure that trade is not only free but also fair and that globalisation will finally be harnessed for the benefit of everyone. Securing global tax justice is not only a moral imperative, it is an essential building block for any comprehensive strategy aimed at solving the range of challenges facing the G20 and the whole world.”