London is confident that the G7 will agree on “concrete” measures to meet the challenges

Finance G7

London, 3 June (EFE). Britain’s Economy Minister, Rishi Sunak, has admitted his confidence that the UK and its partners will be able to agree on “concrete” measures to “meet the world’s most pressing economic challenges”. , at the meetings scheduled in London on Friday and Saturday of the economic leaders of the Group of Seven.

In a statement from Britain’s Treasury, the Conservative Party politician praised the “strength” of the seven most advanced economies and expressed optimism that leaders could reach a consensus on measures.

Finance officials from the United States, Japan, France, Canada, Germany and Italy will attend the two-day event from Friday, which will take place at Lancaster House (downtown), as part of the British G7 presidency, and ahead of the upcoming G7 summit between 11-13 in Cornwall.

The group is expected to discuss the possibility of a global agreement on digital taxes and measures to tackle climate change at its meetings.

In addition, according to the note, support for low-income countries and global recovery will be discussed.

“The G7 is a very important group and I am honored to welcome my partners to London with a renewed spirit of multilateral cooperation,” Sunak said in the statement, in which he noted that before taking over the presidency of the G7, this country had said. He was already clear on his priorities: “Protecting jobs, ensuring a green and global recovery, and supporting the world’s most vulnerable countries.”

In this regard, he added, “Ensuring a global agreement on digital taxes has also been a priority this year and we want companies to pay the right amount of tax in the right place, and I am confident that we can reach a fair agreement with our partners.”

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Sunak was intent on working with the rest of the leaders to “address the world’s most pressing economic challenges” and admitted he was “optimistic” about the possibility of obtaining “tangible results this weekend”.

“Together we can make real change and help lead the international community through the next phase of our recovery,” he said.

The Treasury notes that reaching an international agreement on how to value large digital companies has been a priority for Sunack since taking office, and he is expected to take the opportunity to stress the importance of reaching a consensus that ensures that the big tech companies pay a sum. An adequate level of taxation, which is a reflection of their economic activities in this country.

It is also expected to call on its partners to take a similar approach to the UK and make mandatory reporting on their actions to help eliminate climate change for all of its large companies.

Among other agenda items, the finance ministers will also discuss climate and the transition to zero emissions and will also talk about how to better support developing countries as they emerge from the pandemic.

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