L20 PRESENTS PRIORITIES PRIOR TO MEETING G20 LEADERS IN ST. PETERSBURG NEXT WEEK
Leaders should take the opportunity at the St. Petersburg Summit, building on the Labour and Finance Ministers’ joint conclusions, to restore the public’s faith in global economic policy coordination. The positive tone in regards to supporting aggregate demand, minimum wages and collective bargaining in the Ministers’ joint communiqué should translate into a strong commitment and consecutive policy actions by Leaders.
Despair is eroding trust when one in two working families have been directly impacted by the loss of jobs or a reduction in working hours. Almost 60% of people claim that their income has not kept in pace with the cost of living in the last two years as the ITUC Global Poll of 2013 displays.
The L20 will call G20 governments to live up to their commitments made in Los Cabos and take action to support domestic demand by investing in education, innovation and infrastructure. Measures have to simultaneously ensure a transition to a “green economy” and sustainable development with quality jobs.
L20 Key Policy Priorities
The L20 also explicitely asks for a holistic G20 Jobs Action Plan that would:
- Set national employment targets;
- Raise sustainable aggregate demand;
- Increase public and private investment;
- Mobilise private and public resources with tax measures and an FTT
- Reduce income inequality through strengthened collective bargaining, robust minimum wages and a social protection floor.
The full list of L20 Priority Recommendations is available for download in a PDF version.