It’s true: globalisation can only work if it’s regulated globally. And that we’ve refused to do, to date

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Will Hutton argued in the Observer yesterday:

Globalisation can work, but only with a unified international plan.

We desperately needs economic and social institutions working across national borders.

Nowhere is this more true than tax.

We need an international tax organisation.

We need automatic information exchange by default unless there are cases of proven human rights abuses as a result.

We need unitary apportionment formula taxation for multinational corporations. We need country-by-country reporting to help that happen.

We need to tackle tax havens.

We can do all that. And it would benefit humanity enormously. It would also make globalisation work. But right now it doesn't, in no small part because we don't have those things.

The time for change is coming, very soon. It's a matter of survival now and that's why change will happen.