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One year since Paradise Papers – EU has taken some action, but more must be done to end tax dodging

*** Online civil society press conference at this link  - Monday 5 November @ 15.00 CET *** Monday November 5 is the one-year anniversary of the publication of the Paradise Papers, which made front-page headlines around the world. In the immediate aftermath, the revelations caused political leaders to denounce tax dodging and promise improvements. However, one year after the scandal, most of the problems that led to Paradise Papers remain unaddressed. The European Network on Debt ...

press
Report exposes how PPPs across the world drain the public purse, and fail to deliver in the public interest

Experts call for World Bank Group to end aggressive promotion of PPPs for public service provision Monday October 8 2018 A new report exposing how public private partnerships across the globe have drained the public purse and failed to deliver in the public interest will be launched at the Annual Meetings of the World Bank in Bali this week (Wednesday October 10 at 1.30pm). History RePPPeated: How public private partnerships are failing has been written by experts ...

press
International experts call out Austria for blocking progress on transparency for multinational corporation practices

Ministry of Finance excuses crumble, as time runs out for citizens to see where multinationals are paying taxes Thursday 27th September 2018 In Vienna today, international organisations criticised the Austrian government for blocking progress on an important EU proposal for transparency about where multinational corporations make their profits and where they pay their taxes. While Austria claims to be pushing for action on corporate tax dodging during their Presidency of the EU (1), the Ministry ...

press
More than half of aid spent on procurement still goes to rich countries' firms - almost two decades after commitment to end 'tied aid'

US, Australia and UK worst offenders – with at least US$9 out of every $10 dollars reported going to their own companiesThe estimated cost of not being able to ‘shop around’ for goods and services was between US$1.95 billion and $5.43 billion in 2016A new report concludes that rich countries are still awarding more than half of their development aid procurement spending to companies from their own countries. This is despite a 17-year-old promise to end practices that give their own firms an ...

press
10 years on: Global debt at all-time high. Developing countries hit hard by fallout

Brussels, 10 September 2018 Ten years after the collapse of US investment bank Lehman Brothers (15 Sept 2008), the world is in deeper debt than it was in 2009 – the height of the financial crisis. Global debt reached a record peak of US$164 trillion in 2016, equivalent to 225 percent of global GDP. For advanced economies, debt-to-GDP ratios have plateaued since 2012 to levels not seen since World War II (above 105 per cent of GDP). The fallout from the financial crisis is now also hitting developing ...