G20 leaders reaffirm commitment to inclusive growth

10 Jul 17

The leaders of the world’s richest nations have reaffirmed their commitment to inclusive growth and efficient use of public resources.

“By bringing together developed and emerging market economies, the G20 is determined to shape globalisation to benefit all people,” the communiqué stated.

“Most importantly, we need to better enable our people to seize its opportunities.”

The 15-page document includes sections on fighting corruption, international co-operation on tax and transparency, strengthening health systems and improved co-ordination on managing the effects of migration and displacement.

On corruption, the communiqué said the G20’s anti-corruption action plan would be implemented and committed to fostering integrity in both the public and private sectors.

“We commit to organising our public administrations to be more resilient against corruption,” it added.

On tax, the G20 declaration restated commitment to implementation of the Base Erosion and Profit Shifting (BEPS) reforms and automatic exchange of information under the Common Reporting Standards, expected to begin in September this year.

“We continue to support assistance to developing countries in building their tax capacity,” it added.

“We are also working on enhancing tax certainty and with the OECD on the tax challenges raised by digitalisation of the economy.”

However, beyond the call for efficiency and resilience in the face of corruption, there was little in the declaration about the specifics of public administration and strong public financial management.

The section of the G20 communique on energy and climate dealt with the US’s decision to withdraw from the Paris Agreement on climate change and to stop working towards its objectives.

The other G20 leaders reaffirmed their commitment to the Paris Agreement, which they said was “irreversible”.

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