Making the global economy work for the poor
The global financial and economic system is marked by high levels of poverty and inequality and has contributed to environmental and economic crises.
Any UK Government should therefore commit to:
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Ensuring that trade deals - whether at the World Trade Organisation (WTO) or through the EU - allow developing countries to retain control over their economies, and do not force through deregulation and liberalisation which would undermine development objectives.
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Insisting on fundamental reform of global financial institutions, particularly the World Bank and International Monetary Fund (IMF), to ensure that they engage all developing countries more equitably in their governance and decision-making structures, are made fully transparent and accountable and do not insist on economic conditions that could, for example, undermine social protection systems.
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Requiring greater transparency and automatic information exchange for tax havens, and pushing for a transparent international accounting standard that requires companies to report their financial activities on a country-by-country basis with a clear breakdown of economic activity.
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Introducing a UK Commission for Business, Human Rights and the Environment mandated to ensure adherence of UK companies to environmental and human rights standards.
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Supporting the decent work agenda by adequately funding the International Labour Organisation (ILO), encouraging all developing countries with which the UK works to have Decent Work Country Programmes and ratifying and implementing the core labour conventions of the ILO.
