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How Fiscal Justice can CONTRIBUTE TO REDUCE INEQUALITY Catherine Olier– Accra February 2014
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FISCAL JUSTICE: 3 “sides” of the coin Progressive and fairer tax revenues + Governance Acc Transparency + Redistributive public expenses: ES
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Page 3 EVIDENCE THROUGH EXAMPLES: ICELAND
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Page 4 EVIDENCE THROUGH EXAMPLES MEXICO: the expansion of basic social programs and effectively targeted direct monetary transfers have increased the progressivity of Mexico´s fiscal system in recent years, but redistributive impact is limited by a comparatively ineffective tax system The wealthiest do not contribute their fair share: USD 18.5 trillion of wealth is hidden offshore by rich individuals resulting in a tax loss of USD 156 billion every year. USD 950 billion of illicit financial flows left developing countries in 2011. This represent an increase of almost 14% compared to the previous year. It cost a net loss of USD 100 billion taxes to developing countries every year.
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Page 5 1.Income inequality has increased everywhere. 2.In advanced economies, fiscal policy has played a significant role in reducing income inequality (through progressive income taxation and social expenditures) 3.To improve fiscal policies, we need tax and spending measures such as: reducing tax evasion and avoidance, increasing the progressivity of income taxes, expanding corporate and personal income taxes reducing tax exemptions EVEN THE IMF IS TALKING ABOUT FISCAL JUSTICE!
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Page 6 OXFAM’S APPROACH Everyone should pay taxes according to their means and where some do not escape taxation If so, it is a powerful policy lever (together with quality public services and effective governance) to reduce inequality and ensure fairer society.
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DOMESTIC REVENUES GOVERNANCE: TRANSPARENCY + ACCOUNTABILITY SOCIAL EXPENDI TURE TOWARDS FISCAL JUSTICE NATIONAL MOBILISATION INEQUALITY REDUCTION TAX REFORMS TRANSPARENCY HEALTH EDUCATION GLOBAL SOLUTIONS TO NATIONAL PROBLEMS BUDGET MONITORING
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Page 8 “Injustice anywhere is a threat to justice everywhere” Martin Luther King
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