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The Latest Breaking News from G20

Rachel Reeves set to unveil £20bn black hole in public finances

Fears that the chancellor may need to consider further tax rises as she is set to reveal bad news on public finances

The Independent UK

US Sees No Need For Global Deal To Tax Super-rich: Yellen

The United States sees no need to negotiate an international agreement on taxing the super-wealthy, Treasury Secretary Janet Yellen said Thursday on the sideline of a G20 finance ministers' meeting.

International Business Times

In Rio, G20 Finance Ministers To Mull Taxing The Super-rich

Faced with growing global inequality, G20 finance ministers meeting Thursday in Rio de Janeiro will tackle the thorny issue of taxes for the super-rich, a topic that has divided member states.

International Business Times

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World's Richest 1% Gained $40 Tn In A Decade: Oxfam

The world's richest one percent increased their fortunes by a total of $42 trillion over the past decade, Oxfam said Thursday, ahead of a G20 summit in Brazil where taxing the super-rich tops the agenda.

International Business Times

Lula Rallies G20 Countries Against World Hunger Ahead Of Meeting

Brazil's President Luiz Inacio Lula da Silva on Wednesday will launch a new initiative against world hunger ahead of an upcoming G20 meeting in Rio de Janeiro.

International Business Times

Yellen To Address G20 Finance Leaders On US Policy Commitments After Biden's Withdrawal From Presidential Race

U.S. Treasury Secretary Janet Yellen's presence at the G20 summit in Brazil aims to address subjects on green energy incentives, efforts to tackle debt distress, support for Ukraine and the capacity of China's manufacturing sector.

International Business Times

Developing countries face worst debt crisis in history, study shows

Spending on health and education being cut as nearly half of budgets are used to pay creditors, campaigners say

The Guardian - UK

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Tax the super-rich, says new report commissioned by G20 chair Brazil

In a new report commissioned by Brazil for its G20 presidency, French economist Gabriel Zucman says an international scheme to impose a global minimum tax on the world's richest individuals is technically feasible and that a 2 percent wealth tax on 3,000 billionaires could generate more than $200 billion in…

France 24

Global Tax Proposal Targets Billionaires For Wealth Redistribution

Brazil's G20 proposal advocates for a 2% global tax on billionaires to address wealth inequality and fund essential public services.

Top News

International scheme to tax billionaires’ wealth technically feasible, study finds

Proposal could net up to $250bn a year in extra revenue, says report commissioned by Brazil for G20

The Guardian - UK

The UN says global public debt hit a record $97 trillion in 2023. Developing countries are hard hit

The United Nations is reporting that global public debt rose to a record $97 trillion last year, with developing countries owing roughly one-third of that – crimping their ability to pay for basic government services like health care, education and climate action

The Independent UK

The Guardian view on taxing billionaires: we need to talk about the super-rich

Editorial: G20 countries will discuss proposals to make the world’s wealthiest individuals pay more towards funding public goods. The debate is overdue

The Guardian - UK

Mapped: Which countries recognise Palestine as a state?

Out of 193 UN member states, 147 recognise the state of Palestine – as Britain, Australia and Canada take action

The Independent UK

Closing out G-20 Summit most satisfying, forging crucial friendships most significant in his career, says EAM Jaishankar

Mr. Jaishankar spoke on a range of issues in the nearly hour-long interview including his view of the world in 10 years from now, the challenges faced by India, and the rising profile of the country in the international arena under his watch.

The Hindu

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AAP

'Stop provocations':China warns Australia over incident

China has fired back at Australia after a dangerous incident over the Yellow Sea, accusing Canberra of provocative behaviour.

The Guardian - UK

World’s billionaires should pay minimum 2% wealth tax, say G20 ministers

Brazil, Germany, Spain and South Africa sign motion for fairer tax system to deliver £250bn a year extra to fight poverty and climate crisis

The Guardian - AU

Dutton’s plan to save Australia with nuclear comes undone when you look between the brushstrokes

The dystopian picture of renewables painted by the opposition leader is full of inconsistencies, partial truths and misinformation

Newslaundry

10 years of Modi: 3 out of 5 girls not in high school, only 37% women in labour force

“We cannot achieve success if 50 percent of our population being women are locked at home,” Prime Minister Narendra Modi is quoted as saying in this press release from March 2023. Women-led development was one of the themes in last year’s G20 summit, which India had presided over.

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The Guardian - UK

World Bank official calls for shake-up of G20 debt relief scheme

Chief economist says common framework has failed to provide any new money to world’s poorest countries since it was set up in 2020

The Hindu

Role played by India during G-20 presidency appreciated at IMF and WB meeting: Seth

“There is a widespread appreciation of Indian presidency of the G-20 in building consensus on several issues,” Ajay Seth said.

The Hindu

Very few women in the race as some of the world’s biggest democracies go to the polls in 2024

2024 elections worldwide lack female contenders; gender gap persists in leadership, highlighting need for more women in power.

Top News

Brazil G20 Momentum: Tax Proposal For Super-Rich

Brazil's proposal to tax the super-rich gains global support to reduce inequality and fund social programs.

The Guardian - AU

Australia rises to second in world budget management rankings, IMF data shows

Treasurer and finance minister hail ‘remarkable achievement’ as monitor finds balance to be behind only Canada among G20 countries

The Guardian - UK

At last G20 is showing how to finance an assault on poverty

Brazilian president Lula’s proposals have the backing of the World Bank. Now we need action

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