Hyderabad: A survey conducted across 17 G20 countries has revealed that a majority of adults (68 per cent) support the policy proposal where wealthy people pay a higher tax on their wealth, as a means of funding major changes to economy and lifestyles.
According to a media statement, when thinking about climate change and protecting nature, 71 per cent of people across 18 G20 countries surveyed believe major action is needed immediately - within the next decade – to reduce carbon emissions.
The survey, commissioned by Earth4All and the Global Commons Alliance, explored support for economic and political transformation in 18 of the G20 nations.
Higher carbon taxes, higher progressive taxation on income and higher tax rates for large businesses also received support from a majority across the 17 G20 nations surveyed, to fund major changes to economy and lifestyles.
The statement also added that people want political and economic reform. Two in three people across 17 G20 countries surveyed (68 per cent) agreed that the way the economy works should prioritise the health and well-being of people and nature rather than focusing solely on profit and increasing wealth.
70 per cent supported higher rates of income tax on wealthy people, and 69 per cent favoured higher tax rates on large businesses, according to the survey conducted by Ipsos.
Support for a wealth tax on wealthy people was the highest in Indonesia (86%), Turkey (78%), the United Kingdom (77%) and India (74%). Support was lowest in Saudi Arabia (54%), and Argentina (54%). In the United States, France and Germany around two in three of those surveyed support a wealth tax on wealthy people (67%, 67% and 68% respectively).
About climate change and protecting nature, 71% of citizens in 18 G20 countries surveyed believe the world needs to act immediately, within a decade to reduce carbon emissions from electricity, transport, food, industry and buildings.
"This rises to 91% of Mexicans, 83% of South Africans and 81% of Brazilians surveyed. This belief is lowest – but still over half of respondents – in Saudi Arabia (52%), Japan (53%), the United States (62%) and Italy (62%)," the statement.
Finance ministers from G20 countries, including the United States, China, and India, will meet in Brazil in July 2024. For the first time, a wealth tax is on the agenda as these nations deliberate on strategies to address economic and environmental challenges.
Owen Gaffney, co-lead of the Earth4All initiative, stated, "The message to politicians could not be clearer. The vast majority of people we surveyed in the world's largest economies believe major immediate action is needed this decade to tackle climate change and protect nature. At the same time many feel the economy is not working for them and want political and economic reform. It's possible this may well help explain the rise in populist leaders."
"Our survey results provide a clear mandate from those across the G20 countries surveyed: redistribute wealth. Greater equality will build stronger democracies to drive a fair transformation for a more stable planet," added Gaffney.
"Indians want a giant leap on climate and nature. 68 per cent demanded dramatic reforms across all economic sectors within the next decade. This is a strong mandate for planetary stewardship that cannot be ignored," said Gaffney.
"Indians want a fair economic transformation. 74 per cent support taxing wealth. Tax on high incomes, and corporations to fund climate initiatives, alongside a 'polluter pays' approach with income redistribution are also strongly supported," added Gaffney.
According to Gaffney, in India, support for progressive policies is overwhelming. "71 per cent endorsed universal basic income, 74 per cent supported policies that encourage healthy diets to cut emissions, and 76 per cent sought better work-life balance. Among G20 countries, India showed the strongest support for a universal basic income," added Gaffney.
Jane Madgwick, Executive Director at the Global Commons Alliance, added, "Science demands a giant leap to address the planetary crisis, climate change and to protect nature. And 71 per cent of citizens in 18 G20 countries surveyed support immediate action within the next decade to reduce carbon emissions."
According to the statement, in 17 G20 countries surveyed, a majority of people believe economies should move beyond a singular focus on economic growth.
It also added that trust in government is low, with only 39 per cent of people in 17 G20 countries surveyed believing their government can be trusted to make decisions for the benefit of the majority of people, and just 37 per cent trusting their government to make long-term decisions that will benefit the majority of people 20 or 30 years from now.
The survey also asked whether people are optimistic or pessimistic about their future. On average, 62 per cent of people in 18 G20 countries surveyed are optimistic about their own future. However, only 44 per cent feel positive about their country's future, while 38 per cent are optimistic about the future of the world.
Participants in emerging economies like Indonesia, Mexico, Brazil, and India, along with those in China and Saudi Arabia are the most optimistic while participants in Europe and those in Japan and South Korea tend to be less optimistic, the statement added.
