'G20 fiddles while the world burns'

12 November 2010 - 2:59pm
Press release

Leaders accused of refusing to act on crises

Leaders of the G20 group of the world's major economies, including British prime minister David Cameron, today faced accusations of refusing to take action on the roots of the global financial crisis and its dire impact on jobs and livelihoods.

These charges were made by the British anti-poverty charity War on Want as the G20 summit ended in the South Korean capital Seoul.

It said the group had failed in its self-imposed task of fixing the world economy.

The charity pointed to the leaders' agenda in 2008, which included reining in the financial industry, breaking up overlarge banks, tackling tax havens and regulating financial markets.

According to War on Want, two years on the G20 is simply reaffirming its commitment to the neo-liberal policies that caused the crisis.

Dave Tucker, trade campaigns officer at War on Want, said: "The G20 has refused to rethink the free market system that caused the financial crisis. The leaders are focused on getting back to business as usual, and preserving the policies and institutions that caused the crisis. The guilty have not been punished, but rewarded. They are setting up even worse crises to come."

War on Want is calling for the introduction of capital controls to stop "hot money" destabilising developing countries, as well as action to close down tax havens and implement a worldwide tax on financial transactions to curb speculation.

It is also urging the introduction of far more extensive regulation of the banking sector and ending the dollar's primacy as the international reserve currency, which forces poorer countries to subsidise US consumption.

War on Want brands the G20 an illegitimate group which cannot reach solutions that will meet the needs of all countries, particularly the poorest.

It says the group's discussions should be held instead under the UN Global Economic Coordination Council.

The charity also denounced the austerity measures introduced in many countries as a political choice, not an inevitable consequence of indebtedness caused by the bailout of the banks.

CONTACT: Paul Collins, War on Want media office (+44) (0)20 7324 5054 or (+44) (0)7983 550728


Tax Transparency Now

Demand the EU act for tax transparency now! 


Latest news

Comment: Supreme Court must find for worker's rights in gig economy case

20 February 2018 - 11:30am

Speaking ahead of the Supreme Court hearing on the ‘Pimlico Plumbers’ Gig Economy Case, Owen Espley Labour Rights campaigner at War on Want said:

“The supreme court case must confirm what many courts have already decided, that claiming these workers were self-employed is a ploy to dodge taxes and deny worker’s rights, such as holiday and sick pay.

Read more

War on Want's commitment to safeguarding and code of conduct

16 February 2018 - 10:30am

The recent reports regarding the conduct of staff working for international humanitarian and development charities focussing on Oxfam, is a crucial reminder of the importance that charities should place on ensuring effective policies and practices in safeguarding, including commitments to recognise and uphold the dignity of local communities that the sector works with.

Read more

Join the conversation

Our action at @Tate tonight calling on #UNIQLO to pay up the $5.5m owed to garment workers. Sign their petition:… https://t.co/KNtr8GsUKi 10 hours 15 min ago
.@UCU has made the campaign against casual contracts one of its national priorities. Staff on casual contracts may… https://t.co/onA2qUUBHh 13 hours 6 min ago
University employers are attacking security for everyone. They want it to be cheaper and easier to hire and fire, w… https://t.co/AwdwFVXu3H 14 hours 6 min ago