2023-06-23 15:38:52
A summit and now? French President Emmanuel Macron spoke on Friday of a “complete consensus” to “reform in depth” the global financial system, in order to make it “more efficient, fairer and more adapted to today’s world”, at the end of the Paris summit for a new financial pact, which brought together forty heads of state and government for two days.
The fight against inequalities and the fight for the planet will only find answers with the unity of the international community.
This is the ambition of the Paris Summit. pic.twitter.com/AgxWZ42X4f
—Emmanuel Macron (@EmmanuelMacron) June 23, 2023
“We have to start the work now,” added the Head of State, announcing a “follow-up meeting” in Paris in two years on this “new consensus” to better arm ourselves financially in the fight against poverty and global warming. “No country should have to choose” between the fight against poverty and the protection of the planet, launched Emmanuel Macron in the opening. “We have to take on a public financing shock” and “need a lot more private financing”, he stressed.
Taxing airline tickets and sea transport
The president called on Friday for a “mobilization” to put in place international taxes on financial transactions, plane tickets and maritime transport in order to finance the fight for the climate and against poverty.
“Help us find all the countries which today have no FTT (tax on financial transactions) and which today have no tax on airline tickets. Help us to mobilize at the International Maritime Organization in July so that there is an international taxation”, launched Emmanuel Macron, adding: “International taxation in a single country does not work”
“Towards a fragmentation of our international institutions” in case of failure
The French president has not completely ruled out advocating for a solidarity tax on wealth (ISF) at the global level to finance the fight against climate change, after having largely abolished it in France. “I removed part of the ISF in France because we were almost the only ones to do so,” he explained. So do we need a “global climate ISF”? “I think that we need international taxation which finances this”, eluded Emmanuel Macron.
“This summit aims to build the unity of the international community behind the responses that can be provided to these twin challenges of the fight against inequalities and the fight for the planet”, recalled Emmanuel Macron. “If we fail, we will certainly go towards a fragmentation of our international institutions”.
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