L20 Policy Checklist towards Reducing Inequality

Urgent measures are needed to address rising income inequality. To achieve this, these points need to be integral to future policy objectives of the G20 G20 The Group of Twenty, or G20, is a forum for international cooperation on the most important aspects of the international economic and financial agenda. It brings together 19 countries and the European Union, which together represent around 90% of global GDP, 80% of global trade and two thirds of the world’s population. :

  • Address the growth of in-work poverty through establishment of well-set minimum wages in the light of national contexts.
  • Return to a policy of full employment whereby workers are not at a disadvantage in seeking wages that reflect productivity growth.
  • Strengthen the coverage of collective bargaining by social partners.
  • Undertake corporate governance reforms to curtail the excesses of top income remuneration and encourage the setting of limits of top pay to median incomes in the private sector.
  • Ensure access for all to quality education and training systems with adequate infrastructures and tools for their provision, in particular during times of crisis.
  • Restore progressivity in the tax system and ensure effective taxation of international corporations.
  • Introducing global social protection floors to ensure the provision of universal health and elderly care and of basic public services, as well as national social protection systems so as to support the transition from the informal to the formal economy
  • Evaluate economic performance by wider criteria than GDP per head.