Financial Transparency Coalition

In late November, the UN General Assembly passed a landmark resolution signaling a start on working on a UN framework convention on taxation.

This year, 85 per cent of the world’s population is expected to live under austerity measures, likely further widening inequality.

G20 leaders met in Indonesia in the midst of multiple crises, with 85 percent of the world population expected to face austerity measures and severe budget cuts next year that will impact the most vulnerable compounded by an insufficient response to the Covid-19 pandemic, with only 38 percent of relief funds going to social protection in global South countries.

As the UN General Assembly officially opens on Tuesday, the words from Secretary-General António Guterres last year come to mind, calling on countries to spend 10 percent of their GDP in Covid-19 recovery spending.