Put People First marches on

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The Put People First coalition has issued new campaign demands following the G20 summit ion London in April. Thos that relate to matters of primary concern to this blog are:

1 Prepare, by the G20 finance ministers meeting in November, a proposal for a truly multilateral and automatic tax information exchange agreement that will benefit developing countries and assist those that need help in developing the capacity to make full use of the information that will be available.

2 Insist that new international accounting standards include a provision for country-by-country reporting of all accounts information for all multinational companies.

3 Publicly push for reforms of the governance of the World Bank and the IMF to be completed ahead of schedule – ensuring that developing countries and developed countries have parity of voice and vote at the Bank, and that the IMF institutes a double majority decision making system for all decisions. This year there must be a fundamental shift in the transparency and accountability of these institutions so that they operate under a presumption of disclosure and provide opportunities for the meaningful participation of all stakeholders in their decision-making processes.

4 Demand reforms of the newly created Financial Stability Board (FSB) so that it meets modern standards of governance, transparency and accountability. The same should be done for financial and accounting standard setting bodies so that all the stakeholder groups that they serve – including governments, suppliers, employees and citizens – can effectively influence their decision making.

5 Insist on new accountability mechanisms at the World Bank and IMF to ensure that they respect international standards on human rights, the environment and labour rights – for example the ILO core labour standards.

6 Engage fully, openly and transparently in the discussions on a charter for sustainable economic activity, ensuring that it reflects environmental sustainability and that it includes a binding requirement that environmental, gender and social impacts must be part of listing and reporting requirements for multinationals in all countries.

7 Reform regulation in the UK so that all financial firms, markets and products are not just registered, but properly regulated; and ensure that discussions on launching a fully-inclusive multilateral regulatory authority commence at the earliest possible time.

I had no involvement in drafting these.

But I like them.