G-7 Draft Backs Sustainable Public Finances, Reuters Reports

Group of Seven finance ministers may pledge to keep up support for the economy while committing to more sustainable public finances in the long term, Reuters reported, citing a draft communique circulated before their June 4-5 meeting this week.

The G-7 will also signal backing for a deal on corporate tax including a minimum global rate, according to Reuters. Further details the news service reported from the draft communique are as follows:

  • Ministers will “commit to not withdrawing policy support too soon and investing to promote growth, create high-quality jobs and address climate change and inequalities.”
  • “Once the recovery is firmly established, we need to ensure the long-term sustainability of public finances to enable us to respond to future crises.”
  • “We commit to reaching an equitable solution on the allocation of taxing rights and to a high level of ambition on the rate for a global minimum tax.”

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