TUAC NEWS
Labour 20 warn gaps in G20 agenda risk jobs
16/11/2014
Brisbane 16 November 2014: The 2 per cent extra economic
growth target heralded as the major outcome of the G20 Brisbane
Summit will struggle to be met as it was not accompanied by any
plan to stimulate demand through higher wages and quality job
creation, warned the Labour 20.
With more than 200 million people unemployed around the world,
massive youth unemployment and stagnant wage growth, projections
that the global economy will meet a 2 per cent target above current
trajectories are based on unrealistic economic modelling.
The modelling adopted by the G20 leaders assumes full employment,
which is clearly not the case in most of the world, said Sharan
Burrow, General Secretary of the International Trade Union
Confederation.
“We have no confidence that on current economic modelling the 2 per
cent growth target can be achieved. With the huge unemployment
crisis, and no plans to address demand needed to stimulate the
global economy, the G20 will be back next year with higher
unemployment and more fractured societies,” Burrow said.
The L20 assessment of the communique shows that inequality and
inclusive growth were left aside in favour of business interests
being put ahead of those of working people.
“Positive steps have been made by the G20 on tax evasion and
avoidance through the BEPS Action Plan, investment in
infrastructure and participation of women in the workforce, but
much greater action is needed on shadow banking regulation, public
disclosure of tax reporting and responsible investments to reduce
risk and put the real economy back on track,”’ said John Evans,
General Secretary of the Trade Union Advisory Committee to the OECD
(TUAC).
“We thank the international community of governments for overcoming
the obstacles put in place by the Australian government to leave
action on climate change and social dialogue off the agenda of the
G20,” said Burrow.
The L20 welcomed the leaders’ statement on Ebola, which recognised
the important role of healthcare and relief workers in combatting
the outbreak in Guinea, Liberia and Sierra Leone.
“We look forward to working with the Turkish Presidency of the G20
to re-launch the G20’s work on inequality, climate and raising
social standards in global supply chains. The G20 will have to
recognise the importance of the world refugee crisis. We expect
social dialogue to be a hallmark of the G20 going forward instead
of the narrow corporate interests promoted by the Australian
Presidency and we thank the Turkish Government for their support on
this question,” said Evans.
Ged Kearney, President of the Australian Council of Trade Unions,
said the Australian Government’s Presidency of the G20 had been a
missed opportunity to show global leadership.
“Sadly, the Abbott Government dropped the ball when it had the
chance to provide mature leadership to the G20 on climate change
and inequality and instead used this forum as a soapbox to advocate
domestic policies that are driving down living standards in
Australia,” she said.
For the transcript of the TUAC-ITUC Evaluation of the G20 Brisbane Summit outcomes