News

Trade unions welcome the G20 commitment to engage with unions in the G20 process, while at the same time warning that the G20 remains unduly tilted towards the narrow self-interest of the financial community.



“From being the locus for decisive measures to rescue the global economy as at London and Pittsburgh and to restore sane regulation in place of mad financial market greed, financial reform has stalled and the G20 appears unwilling to stand up to the business leaders and bankers who continue to resist even watered-down regulation whilst paying themselves massive and undeserved bonuses,” stated TUAC's Evans.



Unions warn that without genuine financial reform, the introduction of a financial transactions tax and an end to tax havens, the resources needed for investment in jobs, development and tackling climate change will be lacking. “Implementing these measures is both a moral imperative and an economic necessity,” said Evans.



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