http://www.ituc-csi.org/labour-leaders-demand-jobs-growth.html The international union movement will put its case for the reform of capitalism
at the World Economic Forum in Davos this week with five principles for dealing
with current economic challenges. Addressing political and business chiefs, trade union leaders
from Indonesia, USA and the UK and the international trade union movement will
call for jobs and growth to be at the centre of plans to reboot the world
economy.
Labour’s five principles for growth include:
1. Jobs –Five years of two per cent GDP invested in the
green economy across six sectors in 12 countries can drive more than 55 million
sustainable, decent jobs.
2. Social protection, sustainable demand and decent
work - These should include a social protection floor in every country, with a
global fund to kick-start development in the poorest countries; minimum wages on
which people can live with dignity; and an expansion of collective bargaining to
ensure fair work conditions.
3. Financial regulation - Governments must band
together to stand up for the 'real economy' by putting a ban on algorithmic High
Frequency Trading, regulating the credit rating agencies, and requiring
transparency for the shadow banking system – the hedge funds and investment
vehicles that transact trillions of dollars but fall outside national regulatory
systems.
4. Fair and progressive taxation - It is time to repair
the balance sheets of governments through a fair contribution from those that
can afford to pay: through making corporations pay their fair share, urgently
implementing a broad-based, low-rate Financial Transaction Tax to reduce
speculation and provide a new source of government funding to invest in public
services, social protection and development.
5. Climate action - Governments must find the political
will required to save our children's future, by reducing emissions of
industrialised countries by 25-40% by 2020, implementing a green climate fund
and ensuring a just transition for workers and communities.
Advice ITUC www.ituc-csi.org
