Discover and read the best of Twitter Threads about #G7UK

Most recents (8)

@DrTedros "Globally, the number of new cases of #COVID19 reported to WHO has now declined for 7 weeks in a row, which is the longest sequence of weekly declines during the pandemic so far"-@DrTedros
@DrTedros "While weekly cases are at their lowest since February, deaths are not falling as quickly. The number of deaths reported last week was similar to the previous week"-@DrTedros #COVID19
Read 25 tweets
The #G7 this weekend renounced its role as #globalhealth leader, @kentbuse and I argue in @bmj_latest: blogs.bmj.com/bmj/2021/06/13…

A thread on what next for global health & #healthsecurity.
Speaking at #G20 Rome #GlobalHealthSummit in May, German Chancellor #Merkel had raised the question, “if not us, who?” to end the global #Covid19 #pandemic.

At #G7UK this past weekend, #G7 responded with "Not us," committing to donate 870mn #vaccine doses when the need is 11bn.
Instead of engaging with recommendations of @TheIndPanel to strengthen #pandemic preparedness & the #globalhealth system (theindependentpanel.org/mainreport/), strongly backed by @antonioguterres (), #G7 noted it would "explore" different proposals.
Read 11 tweets
“Last time the #G7 met there was no mention of China. But this time there is mention of China,” #Biden said He also said the “G-7 leaders agreed to call out human rights abuses, to coordinate a strategy to “deal with China & to take action against forced labor”.
#G7Summit (1)
#JoeBiden said there is “plenty of action on China” in the joint communique, I think you’re going to see straightforward dealing with China. “And again, we’re not looking, as I’ve told Xi Jinping myself, I’m not looking for conflict.
.@TV9Bharatvarsh #China #US #India #G7UK (2)
Biden also called on China to “act more responsibly in terms of international norms on human rights and transparency” and mentioned the need for access for international experts to help determine the origins of the coronavirus. #Covid #WuhanLab #China #COVID19 (3)
Read 5 tweets
Maximizing potential benefit of vaccine donations depends on doses going where they can do the"most good" but there's no consensus on where that would be

Murray @IHME_UW @RCReinerJr & I propose an approach that prioritizes epidemiology over geopolitics 1/
thelancet.com/journals/lance…
This week's summit in Cornwall, UK should be the time when G7 leaders finally act on their promises to send surplus COVID-19 vaccine supplies to the many other countries where they remain scarce #G7UK

But how will those vaccine donations be allocated? 2/
bloomberg.com/news/articles/…
COVAX has been criticized by @ZekeEmanuel @GovindPersad & others for its population-based allocation scheme that does not direct most of its early vaccine supplies to the settings at the greatest risk of otherwise having high COVID-19 death rates 3/
nytimes.com/2021/05/24/opi…
Read 9 tweets
We knew Biden admin “going big” on fiscal support for its economy, but extraordinary to hear first hand from US Treas Sec Janet Yellen, that now, was time to “do more”, not even think about phasing out support, & this applied to rest G7, ie incl UK. Sets tone for #G7UK Cornwall Image
Given tax deal focus, this might have been missed at G7 -
judging timing & pace of the withdrawal of crisis support, against backdrop of record borrowing and rising inflation = THE fundamental economic judgement call.

US saying choice clear for all: /1

bbc.co.uk/news/business-…
2/ key analytical point Yellen pointed to: US being forecast to regain economic output lost in pandemic first in G7, thanks to vaccines & stimulus.

That, she said wasnt enough, all G7 econs:
- should aim at “returning to pre-pandemic growth paths” - & had fiscal space to do so
Read 6 tweets
With global tax reform in the news, and what with me being an international tax adviser, the day job is finally fleetingly relevant. So here's a thread.
This weekend's announcement may seem new but it's been a long time in gestation. 1/24
Whilst it's certainly radical it is some way off implementation and will eventually just become an accepted norm and boring compliance requirement. So what is this global reform the G7 leaders agreed this weekend and why have they done it?
Though it may have seemed to come 2/24
from nowhere with Janet Yellen's 21% global min tax proposal, this is not "Biden's tax plan". It's the less catchy Pillars 1 and 2 of the OECD's BEPS 2.0 programme, which was first consulted on in March 2019. BEPS 2.0 implies there was a BEPS 1. So there was, and to 3/24
Read 26 tweets
🚨 At the @G7 in London today, my finance counterparts and I have come to a historic agreement on global tax reform requiring the largest multinational tech giants to pay their fair share of tax in the UK.

👇The thread below explains exactly what this means. #G7UK
2/ Under the principles of the landmark reforms, the largest global firms with profit margins of at least 10% will be in scope – with 20% of any profit above the 10% margin reallocated and then subjected to tax in the countries where they make sales.
3/ The G7 also agreed to the principle of a global minimum corporation tax on large firms of at least 15% operated on a country-by-country basis – creating a more level playing field for UK firms and cracking down on tax avoidance.
Read 4 tweets
At the @G7 in London today, Chancellor @RishiSunak and his counterparts came to a historic agreement on global tax reform that will require the largest multinational tech giants will pay their fair share of tax in the UK.
Under the principles of the landmark reforms, the largest global firms with profit margins of at least 10% will be in scope – with 20% of any profit above the 10% margin reallocated and then subjected to tax in the countries where they make sales.
The G7 also agreed to the principle of at least 15% global minimum corporation tax operated on a country-by-country basis – creating a more level playing field for UK firms and cracking down on tax avoidance.
Read 6 tweets

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