Call for Inclusive Growth - C20
Monday, 3rd November 2014 at 3:39 pm
Global civil society has called on G20 leaders to strive not only for strong, sustainable and balanced growth, but also for a more inclusive pattern of growth for the world’s populations, according to the latest position paper by the Civic 20 (C20) working group.
The C20 is a platform for dialogue between the political leaders of G20 countries and representatives of civil society organisations. Chair of the C20 Steering Committee is Tim Costello, CEO of World Vision.
The G20 Leaders’ Summit will be held on 15-16 November in Brisbane. The Group of Twenty (G20) is the world leaders forum for international economic cooperation and decision-making. Its membership comprises of 19 countries plus the European Union. The G20 President in 2014 is Australia.
“The C20 has engaged national and internationally, and conducted its advocacy on economic growth that is inclusive. We have taken an approach to policy which is pragmatic, to enable nations to appropriate our policy settings, designed to ensure that our societies’ most vulnerable share in the benefits of growth,” the position paper said.
“We have recommend that individual country growth strategies include relevant metrics to demonstrate that outcomes are inclusive and contribute to poverty alleviation.”
C20 Recommendations for Inclusive Growth
- The C20 calls for Inclusive Growth to be a central framework for the G20, building on the formal commitment made in St Petersburg.
- The C20 supports the setting of a Growth Target, but also calls for G20 nations to develop a corresponding income growth target for lifting the incomes of people in the bottom 20 percentile. The setting of the income growth target enables nations to set their own policies about the methods by which the living standards of people in the bottom 20 percentile will be improved as part of achieving overall economic growth.
“It is clear that strategies to deliver sustained poverty reduction require inclusive growth that allows people to contribute to, and benefit from, economic growth. It is important to deliver on structural reform measures that allow people to actively participate in society through their own economic independence,” the position paper said.
“This requires job creation strategies which deliver real jobs in the formal sector, with sustainable wages and legal and social protections. For those marginalised from the labour market, this means investment in both an appropriate and adequate social safety net to secure a reasonable standard of living, and in strategies to remove barriers to labour market participation.
“Inclusive growth also refers both to the pace and pattern of growth. These are interlinked and this is why when policy papers refer to sustained, balanced and strong growth, it is necessary to include inclusive. While reference to the former may imply inclusive outcomes, such outcomes are not guaranteed. Specific reference need to be made to the principle, to galvanise policy action.
“Indeed, the World Bank notes that both the pace and pattern of growth are critical for achieving a high, sustainable growth record, as well as for poverty reduction.
“Furthermore, it notes that inclusiveness, a concept that encompasses equity, equality of opportunity and protection in market and employment transitions, is an essential ingredient of any successful growth strategy.”
“The C20’s primary aim is to ensure the most vulnerable in our society do not get left behind in the quest for economic growth. The C20 Summit has identified the key elements to achieving that, in a way that reduces global inequality,” Tim Costello said earlier this year at the C20 Summit in Melbourne.
Read the latest Position Paper HERE