Spain’s economy minister urged G20 nations to embrace a global minimum tax on the world’s 3,000 billionaires, emphasizing it as a response to growing public demands for wealth redistribution.Juliette Garside reports for The Guardian.In short:Spain’s Carlos Cuerpo advocated for a 2% tax on billionaire assets, which could generate $250 billion annually to fund climate aid and green investments.France, Germany and Brazil support the proposal, with Spain working closely with Brazil ahead discussions at the upcoming Cop30 summit.Spain, vulnerable to climate crises, has boosted green investments with EU funding and tightened national wealth tax laws to curb regional loopholes.Key quote:“There is this moment where you have to be brave and where you just have to do things that you are convinced are right.”— Carlos Cuerpo, Spanish economy minister. Why this matters:Ultra-wealthy individuals often pay minimal taxes –aorund 0,3% of their net worth– compared to ordinary workers, exacerbating inequality. A coordinated global effort could channel funds to address pressing issues like climate change and economic disparities, especially in vulnerable nations.Related:
Spanish minister calls for global tax on billionaires ahead of G20 summit
