The President of the Party of European Socialists (PES) and former Prime Minister of Sweden Stefan Löfven has called on G20 leaders to back a global deal to tax the ultra-rich.
Alongside close to 20 former heads of state and government of G20 and higher-income countries, President Löfven signed an open letter in support of the tax proposal put forward by the Brazilian G20 presidency. The letter was coordinated by Club de Madrid and Oxfam.
PES President Stefan Löfven – a Member of Club de Madrid – said:
“New global standards to tax ultra-rich individuals are urgently needed for the strategic benefit of our economies. All G20 leaders must get behind it. President Biden and others are championing bold new proposals. This is a clear signal that progress is happening and this must now be strengthened by effective international cooperation.
“The G20 is uniquely placed to take a decisive step towards international tax justice by backing Brazil’s proposal. It is a credible plan that would raise billions of dollars for countries to invest in people. And, crucially, it would cement a new global consensus on fairer taxation.”
Brazil’s proposal – crafted by French economist Gabriel Zucman from the independent EU Tax Observatory – calls for an annual 2% levy on fortunes exceeding $1 billion, which could raise up to $250 billion annually from about 3,000 individuals. The joint cooperation proposal represents a major step in efforts to combat tax evasion by the wealthiest.
Other progressive signatories to the Club de Madrid letter include former Prime Minister of Australia Julia Gillard, former Chancellor of Austria Alfred Gusenbauer, former President of Chile Michelle Bachelet, former Prime Minister of Greece George Papandreou, former Prime Minister of New Zealand Helen Clark, former President of Poland Aleksander Kwaśniewski, former Prime Minister of Spain Felipe Gonzalez, and former Prime Minister of Spain Jose Luis Rodriguez Zapatero.
Club de Madrid is the world’s largest forum of democratic former Presidents and Prime Ministers. Leveraging their individual and collective leadership experience and global reach, Club de Madrid works to strengthen inclusive democratic practice and improve the wellbeing of people around the world. It is a non-partisan and international non-profit organisation with over 100 members from over 70 countries.
