Business Life After The Virus: Who Pays & How?
A Global Responsible Tax Response
Tread Carefully. Don’t Rush To Tax. There is a Better Future.
Thank you so much to all those who joined the Jericho Conversation on Who Pays & How? A Global Responsible Tax Response - with Pascal Saint-Amans, Director, Centre for Tax Policy & Administration, OECD; Femke Groothuis, Founder & President, Ex’Tax Project; Chris Morgan, Global Head of Global Tax Policy, KPMG; and Robert Palmer, Executive Director, Tax Justice UK.
“In order for countries to be more sovereign and national on tax, they will need more multilateral co-operation. This is the Tax Paradox”
Pascal Saint-Amans
Pascal on the Tax ParadoxInclusivity. Consensus. Sustainable Growth. Multilateralism“The challenges are ones of labour vs. capital; unilateralism vs. co-ordination; direct vs. indirect taxation; the Developing World; greening the system. These issues need to be addressed with real structural reform, regardless of the crisis.”“The question is not just who pays & how - but when? Later is better … to avoid the same mistakes being made that were made in the 2008 crisis.”
“Global issues demand global answers. Countries should compromise and work with each other; growth and sustainability need to be built together. Developing countries need more tax to realise the UN Sustainable Development Goals. Maybe, in five years’ time, we won’t need to talk about this because it will be a given.”
Femke on Sustainability and A Circular EconomyThere is no economy without public health and a sustainable future.
“This may not be the time for immediate systemic reforms but we should consider what, in the next crisis, we will wish we had done now? We need a considered, step-by-step approach into a better future.”
“It shouldn’t be about how much profit you make, but on how you turn a profit. If a company is able to do good by society while turning a profit, they should be able to thrive. Doing good and doing well must go hand in hand.”
Chris on Responsible TaxCEOs and companies can and should show global leadership for a Responsible Tax future.
“We need tax frameworks that protect the environment and protect the vulnerable.”“Legislation and public pressure is important but CEOs and others need to show real leadership.”“It's so important for companies to voluntarily step up to the mark regarding Tax Transparency. Their customers and employees are expecting it. Even more so for those who have been or will be supported by government funding.”
Robert on A New Tax Deal for Being BetterCut through the bullsh*t and rebuild trust in corporations to demonstrate tax justice.
“We will see increased pressure on governments to not support companies operating in tax havens.”“There is already huge public anger at tax dodging, but companies who have been seen not to contribute in the good times are now asking for a bailout.”“Tax partly supports public spending and in the UK there will be more support for more public spending. We need to be investing much more in our care sector, as a priority.”
If you would like to (re-)watch the webinar in full you can do so here.
Thanks to our panellists and to KPMG and the global Responsible Tax project for their partnership in this Jericho Conversation.We hope that we can keep the conversation flowing, as we look, optimistically, to life after the virus. Please get in touch if you would like to participate in one of our dedicated Responsible Tax roundtables, planned for May.
#JerichoConversations – Next Up
The next Jericho Conversation in the series will take place on Friday 1 May, 12:30-1.45pm.Professor Lynda Gratton, London Business School; best-selling author; CEO, Hot Spots Movement, will lead the discussion.
The expert panel includes Bruce Daisley, author of The Joy of Work and Eat Sleep Work Repeat and former VP, EMEA, Twitter; Geoff McDonald, Mental Health campaigner and former Global VP, HR, Unilever; and Stefan Stern, journalist, commentator and author of The Myths of Management and How To Be A Better Leader.
For discussion: How will employers and employees come to terms with the inevitable employment re-set? How will business respond? And are we seeing the end of 20th century, office-based ways of working, that many have long predicted?
Context and poignancy is provided by a world still in the grips of Coronavirus, with now-compulsory home and remote working and a greater reliance on technology for meeting. Meanwhile, “wellbeing” remains front-of-mind for many of those thinking through the future world of work, aligned to growing mental health concerns in both the workplace and beyond. What is to be done, longer-term, to make working lives happier, less stressful and more fulfilling for all?Part of the Jericho 2020/21 Good Work programme.
#JerichoConversations – Join In
This note is being shared with the wider Jericho community – 4,000+ business leaders, politicians & policymakers, academics and experts, activists and campaigners, media and commentators. Your participation and support is what makes it special. Do get in touch if you have thoughts or ideas to share or would like to find out more about Jericho.Keep well. Stay safe. Take care.Robert, Becky, Becca, Roxi and Team JerichoApril 24 2020
