UN Secretary-General: "Wealth of the Rich Increased by $5 Trillion After COVID-19...Wealth Tax Should Be Introduced"

[Image source=AFP Yonhap News]

[Asia Economy Reporter Byunghee Park] United Nations Secretary-General Antonio Guterres has called on governments around the world to introduce a wealth tax, Bloomberg reported on the 12th (local time).

At the United Nations Economic and Social Forum held that day, Secretary-General Guterres argued that the introduction of a wealth tax is necessary to address the greatly expanded inequality worldwide due to COVID-19. He pointed out that while the lowest-income people have faced greater hardships over the past year, the assets of the world's richest individuals have increased by $5 trillion.

He said, "A new social contract is needed," and added, "To resolve the extreme inequality, a solidarity tax or wealth tax should be imposed on those who have benefited from the pandemic." Secretary-General Guterres emphasized that as a method of the social contract, investments in education, green jobs, social protection, and healthcare systems should be made to lay the foundation for sustainable and inclusive development.

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