G20 countries say super-rich should pay more tax
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 19 November 2024
⏱️ 6 minutes
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Summary
From the BBC World Service: The G20 group of nations has struck a new agreement to tax the ultra-rich in order to fund sustainable development projects. Plus, UK farmers are protesting in London over plans for a new estate tax on agricultural land worth more than $1.2 million. And how is the Egyptian economy faring with the Suez Canal still not back to full capacity following Houthi attacks?
Transcript
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| 0:00.0 | Are you super wealthy? Well, a group of the world's largest economies say you need to pay more tax. Good morning. This is the Marketplace Morning Report and we are live from the BBC World Service. I'm Leanna Byrne. But first, breaking news, the Department of Justice, is reportedly pushing to break up Google, asking a judge to force the sale of its Chrome browser. According to Bloomberg, |
| 0:22.8 | prosecutors are arguing Google's Chrome and search tools create an illegal monopoly using user data |
| 0:28.6 | to drive its ad business. The DOJ declined to comment, but Google says the plan would be harmful to consumers. |
| 0:35.2 | Tune in to our later marketplace programs for more. |
| 0:38.9 | Now, the G20, aka some of the world's richest nations, are meeting in Brazil. |
| 0:44.3 | While many were worried they haven't been agreeing on a lot these days, there is one thing |
| 0:48.8 | they have agreed on. |
| 0:50.0 | The super wealthy should pay more tax. |
| 0:52.5 | Brazil's president Lula said a tax on the wealthy would go a long way to help tackle hunger |
| 0:57.1 | and poverty. |
| 1:00.7 | International tax cooperation is crucial to reducing inequality. |
| 1:05.7 | Studies commissioned by the G20 finance track reveal a 2% tax on the wealth |
| 1:11.2 | of ultra-rich individuals |
| 1:12.9 | could generate around |
| 1:14.7 | $250 billion annually |
| 1:17.4 | to be invested in addressing |
| 1:19.5 | the social and environmental challenges |
| 1:21.9 | of our time. |
| 1:23.1 | Brazil's President Lula there, |
| 1:24.6 | but how significant is it? |
| 1:26.5 | It's just a pledge, after all. The BBC's |
| 1:28.7 | Leandro Prasea is in Rio de Janeiro. The communique is said that the countries will engage |
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