French President Emmanuel Macron has suggested the imposition of a global taxation system in order to subsidise the green agenda to mitigate climate change.
Speaking at the Summit for a New Global Financing Pact in Paris on Friday, Mr Macron argued that actions from individual governments would be insufficient to deal with the alleged armageddon set to descend upon the world and therefore a new international taxation framework should be established. “I’m in favour of an international taxation to finance efforts that we have to make to fight poverty and in terms of climate [action],” the French president said in comments“It doesn’t work when you do it alone, the [financial] flows go elsewhere,” Macron added, while shutting down calls for France to implement a new wealth tax to fund the green agenda.
“France already has in place two types of taxes that have been suggested: one on plane tickets, another on financial transactions,” he said adding that he was going to “make others follow us and mobilize” around these issues. “There has been a great deal of discussion on the idea of international taxation, over and above what countries and institutions are doing. Whether it’s on financial transactions, maritime transport or certain other models, it will only work if it’s truly international, and so it presupposes an agreement, as we’ve been able to do on international taxation,” he said.