Before discussing the proposed G-20 meeting, it is important to note that the upcoming G-20 meeting in Rio de Janeiro, Brazil, aims to focus on wealth tax. Now, let’s come to this survey. This survey included adult youths from G-20 countries, but notably excluded countries like China and Russia.
Meanwhile, countries like Sweden, Denmark, Kenya, and Austria, which are not part of the G-20, were included. Most young adults in these countries believe that tax reforms are necessary and large-scale political and economic changes are also required. This survey was conducted by Ipsos for Earth4All and the Global Commons Alliance.
The survey revealed that at least 68% of young adults from 17 G-20 countries support higher taxes on the wealthy. This is to improve the economy and lifestyle of the general population since environmental damages caused by high economic activities typically affect everyone. The youths have called for higher carbon taxes, progressive income taxes, and increased taxes on large commercial industries, as these are essential for the future improvement of the common people’s lifestyle in these countries.
The most promising aspect of the survey is that even more youths have a unified opinion when it comes to climate change. At least 71% of young adults from 18 G-20 countries believe that immediate action on climate change is necessary. They think it is crucial to achieve internationally set carbon emission targets within the next decade. This is significant as it represents a clear opinion from the youths of the world’s largest economies on environmental challenges.
The survey also highlighted political and economic reforms as important issues. About 68% of the youths in these countries believe that the current economic management should prioritise health and living standards over commercial profits. This perspective shows a clear dissatisfaction with the current centralisation of the economy and calls for a holistic approach to economic success. As the former President of South Africa, freedom fighter, and Nobel Peace Prize laureate Nelson Mandela said, “A holistic approach to the economy must ensure that it benefits all people and not just a few. True freedom cannot exist without economic empowerment and opportunities for all.”
Regarding wealth tax, around 86% of youths in Indonesia, 78% in Turkey, 77% in the UK, and 74% in India agreed with its implementation. Interestingly, even in countries with relatively lower percentages, such as Saudi Arabia and Argentina, the support was over 50%, with 54% of youths agreeing. Additionally, more than two-thirds of young adults in major economies like the USA, France, and Germany support imposing higher taxes on wealthy individuals. The history of wealth tax is not new; Sweden had a wealth tax since 1947, abolished in 2007.
Similarly, Germany implemented a wealth tax after World War II, known as ‘Vermögensteuer,’ which was abolished in 1997. France has had various forms of wealth tax over time, such as the ‘Impôt de Solidarité sur la Fortune’ (ISF) in 1982, which was abolished in 1986 and reintroduced in 1988 as ‘Impôt sur la Fortune Immobilière’ (IFI), lasting until 2018. Spain also has a long tradition of wealth tax, which was abolished during the global recession in 2008 and reintroduced in 2011. Ancient civilisations also had wealth tax systems, like the ‘Tributum’ in ancient Rome.
On climate change and environmental protection, 71% of young adults from 18 G-20 countries have called for immediate action on carbon emissions. Notably, 91% of youths in Mexico, 83% in South Africa, and 81% in Brazil agreed. Interestingly, even in countries with lower percentages like Japan and Saudi Arabia, the support was over 50%, with 52% and 53% of youths respectively advocating for immediate steps on climate change and environmental protection.
Finance ministers from G-20 countries, including the USA, China, and India, are expected to meet in Brazil in July, where wealth tax will be a major agenda. Strategies to tackle economic and environmental challenges will be discussed, and the survey results are likely to be a significant topic.
The survey results are intended to be used for economic and political reforms in G-20 countries, excluding Russia and China. These figures emphasise the widespread agreement on additional tax revenue to implement policy changes. Key issues where G-20 youths have shown agreement include green energy initiatives, universal healthcare, and workers’ rights. Less discussed topics like universal basic income and investment in citizen assemblies to strengthen democracy were also highlighted in the survey.
Earth4All leader Owen Gaffney stated that there couldn’t be a clearer message for global leaders. The world’s largest economies’ youths advocate for immediate climate action this decade and are concerned about environmental protection. They believe the economy is not working in their favor and call for large-scale political and economic reforms. These results could help develop popular leaders’ understanding.
Most youths in the G-20 countries surveyed believe the economy’s sole purpose cannot be economic growth. 68% believe their country’s economy should prioritize people’s health and living standards over profits and wealth accumulation. Additionally, 62% agreed that economic success should be measured by people’s health and living standards, not just economic growth rates.
Interestingly, fewer youths expressed trust in their governments. Only 39% of G-20 country youths believe their governments’ decisions are in their best interest. Furthermore, only 37% trust their governments’ long-term decisions that will impact their country in the next 30 years.
Moreover, 65% of survey participants believe their country needs significant national political changes, while 36% advocate for a complete overhaul of their political system. Similarly, 67% called for a total overhaul of their economic system, with 41% wanting major changes and 27% desiring a complete transformation of their country’s economic structure.
Club of Rome co-president and Earth4All executive chair Sandrine Dixson-Declève said the survey confirms that G-20 countries deeply believe the time has come for climate solutions and tackling inequality. However, trust in governments, specially in Europe is evidently low. As recent European elections also showed a tilt towards extremists. We need to ensure government accountability to create an economy beneficial for both people and the planet.
The last interesting point from the survey is that 62% of young adults from 18 G-20 countries are optimistic about their future, while 44% are hopeful about their country’s future, and 38% are optimistic about the world’s future. People from countries like Indonesia, Mexico, Brazil, and India were the most optimistic, whereas those from Europe, Japan, and South Korea were less hopeful.
Thus, it is clear that this survey is not just for speeches at conferences or seminars but strongly advocates for immediate action on wealth distribution and climate change. The time has come to shift economies towards improving people’s living standards and environmental sustainability.
As the great Indian environmental activist and founder of the Chipko Movement, the late Sunderlal Bahuguna said: “Ecology and economy are becoming inextricably intertwined, and both need to be harmonised for sustainable development.”