Mboweni joins finance chiefs in calling for a global corporate minimum tax
Ministers of finance Tito Mboweni, Janet Yellen, Olaf Scholz, Arturo Herrera Gutierrez and Sri Mulyani Indrawati explain the need for a level playing field in an unequal world
Every nation is facing inequities brought on by dramatic technological change, the surging market power of big companies and the fierce competitive pressures resulting from capital mobility. The worst global health crisis in a century has also challenged the world’s economies, especially their public finances, in extraordinary ways. Some countries are beginning to emerge from the Covid-19 crisis while others are still mired in its depths. Each of us, in our capacity as finance ministers, sees two pressing concerns that could threaten all of our economies despite the differences between them.
First, wealthy people and corporations are doing much better than those at the bottom of the economic ladder. Low-wage workers and parents are forced to choose between their health and the safety of their children, on the one hand, and their livelihoods, on the other. As a result, they have disproportionately borne the brunt of the pandemic’s economic harms. Small businesses and their owne...
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