{"id":133951,"date":"2024-09-26T07:35:03","date_gmt":"2024-09-26T04:35:03","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/yleinen\/oecd-calls-for-higher-property-taxes-to-fight-debt\/"},"modified":"2024-09-26T07:35:03","modified_gmt":"2024-09-26T04:35:03","slug":"oecd-calls-for-higher-property-taxes-to-fight-debt","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/en\/yleinen\/oecd-calls-for-higher-property-taxes-to-fight-debt\/","title":{"rendered":"OECD calls for higher property taxes to fight debt"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\" method=\"post\" data-trp-original-action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button\" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/en\/wp-json\/wp\/v2\/posts\/133951\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\n<p>The OECD on Wednesday slightly raised its world economic growth forecast for 2024 but called for higher property and environmental taxes to combat soaring debt in many countries. In its twice-yearly economic outlook report titled \u201cTurning the Corner\u201d, the Paris-based organisation said global gross domestic product would expand by 3.2 percent, compared to 3.1 percent in its previous forecast.<\/p>\n<p>\u201cThe global economy is starting to turn the corner, with declining inflation and robust trade growth,\u201d OECD Secretary-General Mathias Cormann said. \u201cAt 3.2 percent, we expect global growth to remain resilient both in 2024 and 2025,\u201d said the head of the Organisation for Economic Cooperation and Development. Central banks in the United States and Europe have started to cut interest rates as inflation, which soared after the Covid pandemic and Russia\u2019s invasion of Ukraine, is finally cooling.<\/p>\n<p>The OECD cited \u201crelatively robust\u201d growth in the United States, Brazil, Britain, India and Indonesia. And it raised Russia\u2019s GDP growth forecast by 1.1 percentage points to 3.7 percent. But the OECD slightly lowered the outlook for Germany, Europe\u2019s biggest economy, to 0.1 percent growth and said Japan\u2019s GDP would shrink by 0.1 percent. Argentina\u2019s economy would have a deeper contraction of four percent.<\/p>\n<p>While it raised the world GDP outlook, the OECD sounded the alarm on rising debt, urging governments to make \u201cstronger efforts\u201d to contain spending and raise revenue. \u201cDecisive fiscal actions are needed to ensure debt sustainability, preserve room for governments to react to future shocks and generate resources to help meet future spending pressures,\u201d it said. \u201cGovernments face significant fiscal challenges from higher debt and the additional spending pressures arising from ageing populations, climate change mitigation and adaptation measures, plans to raise defence spending, and the need to finance new reforms,\u201d it added.<\/p>\n<p>Global public debt rose to a record $97 trillion last year, doubling since 2010, according to a United Nations report published in June. Cormann said at a news conference that countries need \u201cto do more to better control\u201d spending and optimise tax revenue, noting that debt in G20 countries amounted to 113 percent of GDP last year, compared to 73 percent in 2007. \u201cWithout sustained action, future debt burdens will rise significantly further and scope to react to future downside shocks will be increasingly limited,\u201d the OECD warned. \u201cOn the revenue side, efforts to eliminate distortive tax expenditures and enhance revenues from indirect, environmental and property taxes are called for in many countries,\u201d the organisation said.<\/p>\n<p>Raising taxes on the world\u2019s wealthiest people and big businesses has come to the fore in recent years. US presidential candidate Kamala Harris is pushing to raise taxes on corporations and richer households. The new French government led by conservative Prime Minister Michel Barnier has also put new taxes for the wealthy and big businesses on the table as the country faces a big budget deficit.<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.digitaljournal.com\/world\/oecd-calls-for-higher-property-taxes-to-fight-debt\/article\">DJ<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/yleinen\/oecd-calls-for-higher-property-taxes-to-fight-debt\/\">OECD calls for higher property taxes to fight debt<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,1],"tags":[555,16240,440,655],"class_list":["post-133951","post","type-post","status-publish","format-standard","hentry","category-news","category-yleinen","tag-csr-news-en","tag-higher-property-taxes","tag-oecd","tag-yleinen"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/133951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/comments?post=133951"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/133951\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/media?parent=133951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/categories?post=133951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/tags?post=133951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}