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OECD ministers today closed two days of discussions aimed at building resilient economies and inclusive societies. Chaired by Japan, the OECD’s Annual Meeting at Ministerial Level saw the launch or reinforcement of a number of major projects such as the OECD Southeast Asia Programme and the New Approaches to Economic Challenges initiative.
The OECD’s 34 member countries today affirmed their common resolve to work towards a deal on combating climate change at the COP21 talks in Paris in 2015. OECD accession countries Colombia and Latvia joined the statement issued at the Organisation’s annual Ministerial Council Meeting, attended by finance, economy, trade and other ministers.
The OECD’s new Services Trade Restrictiveness Index (STRI), released during the Organisation’s annual Ministerial Council Meeting, provides a unique and comprehensive snapshot of services trade restrictions across 18 sectors in 40 leading economies, representing over 80% of global services trade.
Bank secrecy for tax purposes is coming to an end as countries and major financial centres commit to automatic exchange of information between jurisdictions.
The global economy will strengthen over the coming two years, but urgent action is still required to further reduce unemployment and address other legacies from the crisis, according to the OECD’s latest Economic Outlook.
The Southeast Asia region, with more than half-a-billion people, is among the fastest-growing regions in the world but levels of growth and prosperity within the region remain uneven. Good policies need to be implemented in the region to maintain strong growth and make it more inclusive, boosting productivity, reducing poverty, and avoid falling into the “middle income trap”.
Smarter planning for natural and man-made disasters that increases collaboration between countries and encourages households and businesses to take more responsibility would improve resilience and reduce future economic losses, a new OECD report says.
Japanese users of the Better Life Index (BLI) worry most about safety, Australians seek work-life balance, Latin Americans strive for better education, and Danes want to be happy – user feedback shows as the Index marks its third birthday.
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 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.