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Inequality – now at its highest level in decades in many countries – undermines economic growth and well-being, says a new OECD report. But policies to tackle the widening gap between rich and poor will only succeed if they also look beyond income and address better access to high-quality education, health care and public infrastructure, it adds.
The OECD Week 2014 "Resilient Economies & Inclusive Societies" brings together the annual Meeting of the OECD Council at Ministerial Level and the OECD Forum. The key issues on the global agenda will be debated by all stakeholders – business, labour, civil society and academia – as well as by ministers.
OECD countries accounted for around 50% of the world’s Gross Domestic Product (GDP) expressed in Purchasing Power Parities (PPPs) in 2011 - the latest benchmark year - compared with about 60% in 2005, the previous benchmark year, according to new data released today by the International Comparison Program (ICP).
The shares of the richest 1% in total pre-tax income have increased in most OECD countries over the past three decades. This rise is the result of the top 1% capturing a disproportionate share of overall income growth over that timeframe: up to 37% in Canada and 47% in the United States, according to new OECD analysis.
The international community continues making progress toward greater cooperation to ensure effective information exchange in tax matters. The Global Forum on Transparency and Exchange of Information for Tax Purposes issued today 12 new reports that highlight action being taken by jurisdictions to implement the international standard for exchange of information on request.
The Netherlands is gradually emerging from a double-dip recession with strengthened public finances and reforms on track to improve the labour and housing markets and the health care and pension systems. These reforms are paying off, says the OECD. Growth is expected to reach 1% this year and 1.3% in 2015.
The governments of 86 countries have taken a key step towards preventing value added tax from weighing on trade while also safeguarding state revenues by endorsing the first internationally agreed framework for applying national VAT rules to cross-border transactions.
Closer collaboration between local employment, training, and economic development agencies to develop the right skills in jobseekers is crucial to support export-oriented growth in Northern Ireland, according to a new OECD report.
With economic recovery underway in most OECD countries, efforts to create jobs and stimulate growth have moved to the local level, where workers are seeking to acquire the skills needed in the 21st Century economy.
The OECD’s latest Economic Survey of The Netherlands, to be published on Thursday 24 April 2014, assesses the country’s gradual emergence from a protracted recession as well as the structural reforms the government has implemented, or plans to put in place, to help the economy recover.