by Former Swiss National Bank Chairman Philipp Hildebrand, who has been nominated to lead the Organisation for Economic Cooperation and Development (OECD), says the Paris-based organisation can play a key role in the area of green investment. In his first wide-ranging interview since the former central bank chairman was nominated as a candidate for the OECD, Hildebrand told SonntagsZeitung that he saw three key priorities for the Paris-based organisation: fighting inequality and climate change and restructuring the global tax system. “The first is the problem of inequality. The economic model of the past 15 years has led to greater inequality in income and wealth distribution around the world,” he said. The second issue, he said, is investing money in a way that
Topics:
Swissinfo considers the following as important: 3) Swiss Markets and News, 3.) Swiss Business and Economy, Featured, newsletter, Politics
This could be interesting, too:
Frank Shostak writes Assumptions in Economics and in the Real World
Conor Sanderson writes The Betrayal of Free Speech: Elon Musk Buckles to Government Censorship, Again
Nachrichten Ticker - www.finanzen.ch writes Bitcoin erstmals über 80.000 US-Dollar
Nachrichten Ticker - www.finanzen.ch writes Kraken kündigt eigene Blockchain ‘Ink’ an – Neue Ära für den Krypto-Markt?
Former Swiss National Bank Chairman Philipp Hildebrand, who has been nominated to lead the Organisation for Economic Cooperation and Development (OECD), says the Paris-based organisation can play a key role in the area of green investment.
In his first wide-ranging interview since the former central bank chairman was nominated as a candidate for the OECD, Hildebrand told SonntagsZeitung that he saw three key priorities for the Paris-based organisation: fighting inequality and climate change and restructuring the global tax system.
“The first is the problem of inequality. The economic model of the past 15 years has led to greater inequality in income and wealth distribution around the world,” he said.
The second issue, he said, is investing money in a way that simultaneously promotes growth and curbs climate change.
“The public sector is investing huge amounts of money to deal with the current crisis. As a result, countries will have higher debt levels than after the Second World War. That is why it is crucial how the billions are invested,” he said.
“On the one hand, the money must promote growth – for example, through more innovation – in order to be able to repay the debt. At the same time, the money must be invested in such a way that climate change is slowed down.”
Hildebrand said global solutions were also needed to sort out the tax system.
“The combination of digitalisation and globalisation means that it’s easy for corporations to stop paying taxes at all. That is why I am in favour of minimum taxation in principle,” he said.
The OECD is an intergovernmental economic organisation with 37 member countries. Its aim is to stimulate economic progress and world trade. Switzerland was one of the founding members of the organisation when it was created in 1961.
If the Swiss candidacy is successful, the 57-year-old would succeed Angel Gurría of Spain as OECD secretary-general at the end of May 2021. To date there are eight candidates in the running in a nomination process that will be finalised next February.
Hildebrand was chairman of the Swiss National Bank between 2010 and 2012, before he stepped down under pressure, notably from the political right over a private currency deal.
He later joined BlackRock, a leading asset management company, and has held the position of vice-president there since 2012.
You Might Also Like
New Geneva platform to ‘anticipate societal changes’
2020-07-09
A new international platform is to be launched in Geneva to anticipate the effects of societal changes amidst the Covid-19 crisis, Swiss President Simonetta Sommaruga said on Wednesday.
Swiss government wants extra CHF770 million to tackle coronavirus
2020-08-13
The Swiss government has asked for an extra CHF770 million ($841 million) in funds to tackle the coronavirus fallout. This comes on top of the CHF31 billion in bailout funds approved by parliament since March.
Do the WTO and the 1972 Free Trade Agreement guarantee Swiss access to the EU market?
2020-09-20
The authors of a popular initiative to limit immigration to Switzerland from the 27-nation European Union say a “yes” vote will not affect Swiss businesses’ access to the EU market. A fact check shows the claim to be misleading.
WEF Davos conference in doubt for 2021
2020-09-23
The World Economic Forum’s (WEF) flagship summit may not take place in Davos next year, businesses in the alpine town have been warned. The pandemic had already forced organisers to postpone the event from its usual January slot to a potential early summer date.
Swiss select ex-central banker for OECD top post
2020-10-30
The Swiss government has nominated Philipp Hildebrand, a former head of the country’s central bank, to lead the Organisation for Economic Co-operation and Development (OECD).
Swiss pledge CHF104 million in development aid for Afghanistan
2020-11-27
At an international conference in Geneva to source funding for Afghanistan, Switzerland has renewed its annual CHF26 million ($28.48 million) pledge for another four years.
WEF annual meeting moves from Switzerland to Singapore
2020-12-08
The coronavirus pandemic has forced the World Economic Forum (WEF) to relocate its flagship event to Singapore next year. It will be only the second time in 50 years that it will be staged outside of the Swiss mountain resort of Davos.
WEF’s Asian relocation to cost Switzerland tens of millions
2020-12-11
Swiss hotels, restaurants and shops are counting up the cost of the World Economic Forum’s (WEF) flagship event moving to Singapore next year. This year’s 50th annual meeting realised a net gain of around CHF80 million ($90 million) for the Swiss economy.
Tags: Featured,newsletter,Politics