Let’s be clear: economic recovery, which is highly hypothetical, will not be enough. And it is just as obvious that the austerity programmes that several states are implementing will only make the situation worse by reducing the resources of public services that are already very fragile.They are, however, along with social protection systems, the most effective instruments that states have to fight poverty and inequality.
Austerity is not inevitable. States can increase their fiscal space by taxing companies and the super-rich more. Let’s consider the energy multinationals, which have recorded unprecedented profits.broke records with its profits in the third quarter of 2022, raking in $19.
, the Independent Commission for the Reform of International Corporate Taxation, of which I am a member, along with such figures as Joseph Stiglitz, Jayati Ghosh and Thomas Piketty.
Source: News Formal (newsformal.com)
So well said!
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