Latest news with #SevillePlatformforAction
Scoop
2 days ago
- Business
- Scoop
Spain And Brazil Push Global Action To Tax The Super-Rich And Curb Inequality
1 July 2025 Presented during the UN's 4th International Conference on Financing for Development, taking place this week in Sevilla, the proposal highlights a growing problem: the richest individuals often contribute less to public finances than ordinary taxpayers, thanks to lower effective tax rates and legal loopholes. 'Our countries need more and more public revenues to meet their needs. Inequality is a problem everywhere, and the richest pay less than the middle class – even less than lower-income taxpayers,' said Spain's Secretary of State for Finance Jesús Gascón, during a press conference at the conference venue, where temperatures have soared to record highs in recent days. The two governments are calling on others to join a drive for a fairer, more progressive global tax system. They point to a stark reality: the wealthiest one per cent of the global population owns more than 95 per cent of humanity combined. Sharing knowledge, closing gaps In today's interconnected world, access to reliable data is essential. The initiative prioritises information sharing - between governments and tax authorities – to help expose gaps in tax systems, close loopholes, and combat evasion and avoidance. Improving data quality and building national capacities for data analysis will help tax administrations identify where and how wealth is concentrated, how much is currently being paid, and what needs to change. Though some progress has already been made, the countries say much more must be done and many more countries should come on board. ' There's a real need to know who the beneficial owners are behind companies and legal structures used to conceal wealth,' said Mr. Gascón. The initiative also proposes technical cooperation, training in data analytics, and peer review mechanisms to strengthen national tax systems. A global wealth registry? Spain and Brazil are even considering steps toward a global wealth registry – acknowledging that this would take time, political will, and major national efforts. But the aim is clear: more transparency, more accountability, and fairer contributions from the richest. ' We cannot tolerate the intensity of inequality, which has been increasing in recent years,' said Brazil's Minister-Counsellor to the UN, José Gilberto Scandiucci denying that this was some kind of far-leftist agenda. ' This is a moderate initiative to confront a very radical reality.' The proposal forms part of the Seville Platform for Action, which is turbocharging voluntary actions to help reach the Sustainable Development Goals (SDGs) – currently way off track for the 2030 deadline. G20 highlights 'high worth' factor It also follows the 2024 agreement by the G20 industrialised nations who met in Rio, Brazil, last year – the first international accord to commit to a joint tax agenda for high-net-worth individuals. A three-month work plan is now being drawn up, with regular meetings planned to track progress. The goal: bring more countries, international organisations and civil society on board to push forward tax reforms targeting the ultra-rich. 'If we want to effectively tax the super-rich, fight inequality and make our tax systems fairer and more progressive, we need political will – and we need to act within our means,' Mr. Gascón added.
See - Sada Elbalad
3 days ago
- Business
- See - Sada Elbalad
PM Delivers Speech at Launch Event of "Seville Platform for Action"
Rana Atef Today, Dr. Mostafa Madbouly, Prime Minister of Egypt, participated on behalf of His Excellency President Abdel Fattah El-Sisi, President of the Republic, in the launch event of the "Seville Platform for Action", part of the program of the Fourth United Nations Conference on Financing for Development, hosted by the Spanish province of Seville. The event was attended by Mr. António Guterres, Secretary-General of the United Nations; Mr. Pedro Sánchez, Prime Minister of Spain; Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation of Egypt; and a number of senior officials. In their speeches during the event, both the UN Secretary-General and the Spanish Prime Minister stressed the importance of mobilizing the necessary financing to achieve the Sustainable Development Goals (SDGs), the need for all parties to collaborate in this endeavor, and support for developing countries in their development efforts. They also emphasized the significance of launching the Seville Platform for Action. Dr. Mostafa Madbouly, Prime Minister of Egypt, also delivered a speech at the event, beginning by saying: 'I am pleased to be with you today at the launch of the 'Seville Platform for Action', an initiative that comes at a critical moment. Its goal is to bring together governments, financial institutions, development partners, the private sector, and all stakeholders to assess challenges, share experiences, and present innovative solutions — to put the world back on track and accelerate progress towards the SDGs.' Dr. Madbouly expressed appreciation for Egypt's active role in the initiative, which recognized the country as a successful development model — particularly for its use of the Integrated National Financing Framework (INFF) to coordinate reforms, investments, and the implementation of Egypt Vision 2030, and for mobilizing financing through the innovative national platform NWFI (Novi). This platform focuses on attracting investment and financing for high-return projects in the water, food, and energy sectors. In this context, the Prime Minister noted that the Integrated National Financing Framework serves as a central tool for prioritizing investments, mapping the financing landscape, and improving resource allocation. He added that the framework prioritizes key sectors for accelerating sustainable development — especially education, health, social protection, water and sanitation, and transport — while also addressing critical issues such as environmental sustainability and gender equality. Dr. Madbouly continued: 'This framework is a key pillar of several initiatives dedicated to promoting multidimensional sustainable development and inclusive community partnerships. Chief among them is the 'Takaful and Karama' program — a presidential initiative launched in 2015 to support poor families, focusing on human capital development through conditional and unconditional cash transfers. This program promotes social protection, education, and health, and is recognized internationally as an effective model of social protection.' He went on to highlight another success story — the presidential initiative 'Hayah Karima' (Decent Life), launched in 2019, which stands as Egypt's national project for developing rural areas. The initiative aims to improve the daily living conditions of Egyptians through the delivery of integrated services. It benefits more than 60 million citizens across over 4,500 villages. The Prime Minister concluded his remarks by reaffirming that effective international development cooperation has become essential to achieving the SDGs by 2030, stating: 'We look forward to the full activation of the 'Seville Platform for Action', which can help move from commitments to tangible results on the ground. We will work constructively with other countries and development partners to make this platform a successful model for knowledge exchange and the adoption of best practices — ensuring that no one is left behind.' read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean Arts & Culture "6 Ayam" Sets Streaming Date
See - Sada Elbalad
4 days ago
- Politics
- See - Sada Elbalad
PM participates in the opening session of United Nations conference
Basant Ahmed Prime Minister Dr. Mostafa Madbouly will participate tomorrow, Monday, in the opening session of the Fourth United Nations Conference on Financing for Development, which will be held in Spain. The event will be attended by a large number of heads of state and government, most notably the Spanish Prime Minister, the UN Secretary-General, and a number of heads of international institutions and organizations. Dr. Mostafa Madbouly will also attend the launch of the Seville Platform for Action, where he is scheduled to deliver a speech. The Prime Minister will also deliver Egypt's speech during his participation in the general debate sessions of the Fourth United Nations Conference on Financing for Development. The Prime Minister's visit program includes several important meetings with heads of government and ministers from a number of countries, as well as heads of regional and international institutions and organizations. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Al-Ahram Weekly
4 days ago
- Business
- Al-Ahram Weekly
Egypt PM heads to Spain for UN conference on financing for development
Prime Minister Mostafa Madbouly has departed for Seville, Spain, to attend the Fourth United Nations International Conference on Financing for Development (FFD4), scheduled to take place from 30 June to 3 July. Madbouly will participate in the conference opening session on Monday on behalf of President Abdel-Fattah El-Sisi, according to a Sunday cabinet statement. He will also attend the launch of the Seville Platform for Action, where he is slated to deliver a key address, in addition to Egypt's official statement during the general debate sessions of the conference. The PM's agenda includes a series of meetings with heads of government, ministers from several nations, and leaders of regional and international organizations. He is accompanied by Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat and Minister of Finance Ahmed Kouchouk. The event, which aims to enhance international cooperation in financing for development, is expected to draw a significant number of heads of state and government, including Spain's Prime Minister and the UN Secretary-General, as well as leaders of various international institutions and organizations. Egypt is set to present its financing model at the FFD4, showcasing its blended finance architecture and de-risking tools. Earlier this month, at a high-level meeting ahead of the FFD4, El-Sisi outlined the pillars of Egypt's vision for enhancing international efforts to finance development, highlighting significant changes in the international trade landscape that are affecting the global economy. Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
4 days ago
- Business
- Al-Ahram Weekly
Egypt PM Madbouly heads to Spain for UN conference on financing for development
Prime Minister Mostafa Madbouly has departed for Seville, Spain, to attend the Fourth United Nations International Conference on Financing for Development (FFD4), scheduled to take place from 30 June to 3 July. Madbouly will participate in the conference opening session on Monday on behalf of President Abdel-Fattah El-Sisi, according to a Sunday cabinet statement. He will also attend the launch of the Seville Platform for Action, where he is slated to deliver a key address, in addition to Egypt's official statement during the general debate sessions of the conference. The PM's agenda includes a series of meetings with heads of government, ministers from several nations, and leaders of regional and international organizations. He is accompanied by Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat and Minister of Finance Ahmed Kouchouk. The event, which aims to enhance international cooperation in financing for development, is expected to draw a significant number of heads of state and government, including Spain's Prime Minister and the UN Secretary-General, as well as leaders of various international institutions and organizations. Egypt is set to present its financing model at the FFD4, showcasing its blended finance architecture and de-risking tools. Earlier this month, at a high-level meeting ahead of the FFD4, El-Sisi outlined the pillars of Egypt's vision for enhancing international efforts to finance development, highlighting significant changes in the international trade landscape that are affecting the global economy. Follow us on: Facebook Instagram Whatsapp Short link:
