G20 has failed to address calls for taxes on ultra-rich, says Greenpeace Africa

JOHANNESBURG - Lobby group Greenpeace Africa has said that the G20 has fallen short on addressing calls to tax the ultra-rich as advocacy groups mount calls for the wealthy to foot the bill for development.

The repeated calls follow the close of the third G20 finance ministers and central bank governors meeting in KwaZulu Natal.

During the high-level talks the fiscal and monetary policy leaders reached consensus on a range of common global challenges.

Greenpeace Africa said it welcomes the G20 finance track’s show of support for the un tax convention as a step in the right direction for new global tax rules that work for everyone, not just a select few.

But the organisation said the bloc squandered a chance to get a breakthrough on wealth taxation that could redistribute much needed funds to tackle socioeconomic challenges.

Greenpeace Africa’s Cynthia Moyo said "It’s outrageous that billionaires keep getting richer off a broken global tax system while millions across Africa and the world are pushed deeper into poverty and climate chaos. This is financial apartheid".

She added that South Africa understands the cost of injustice.

"Just as Mandela led the fight against political apartheid, president Ramaphosa now has a chance to lead the g20 in dismantling financial apartheid by taxing the super-rich and backing the un tax convention. This is a fight for justice, dignity, and a future where wealth serves people, not the powerful few," said Moyo