3-September-2016
English
The world economy is trapped in three interrelated vicious circles: a “low-growth trap”, a low-growth/low interest rates trap, and at no point in the past 30 years has productivity growth been lower. How do we break these three vicious cycles? A bold and comprehensive, three-pronged policy package is needed, many elements of which are encapsulated in this year’s B20 recommendations.
29-August-2016
English
Today, the challenge of water security is global and it is growing. We estimate that by 2050, over 40% of the global population will live under severe water stress; and as global population increases, so will tensions among different water uses.
26-August-2016
English
I have just written to Prime Minister Renzi. We are thinking of those who lost their lives, their families, their homes, as well as the many others affected by this disaster.
24-July-2016
English
My report to you for this meeting sets out three objective criteria to identify non-cooperative jurisdictions with respect to tax transparency: the implementation of the Exchange of Information on Request standard, the implementation of the Automatic Exchange of Information standard, and joining the multilateral Convention on Mutual Administrative Assistance in Tax Matters (multilateral Convention).
24-July-2016
English
A critical dimension of the 'low-growth trap’ is a lack of investment. Weak investment is undermining productivity growth and lowering potential output by holding back capital deepening and hindering the pace at which innovation is embodied in plant and equipment.
24-July-2016
English
For the OECD, China is an indispensable partner in this exercise and I would like to thank Minister Lou and the Ministry of Finance for organising this event. It is another milestone in our ever-expanding co-operation following the agreement of our memorandum of understanding in March 2015
23-July-2016
English
As policy-makers, we know that uncertainty negatively affects investment and consequently, productivity – putting the brakes on growth. It increases the cost of capital by raising the risk premium. Removing that uncertainty can be more important to investors than more obvious, headline issues such as the tax rate.
23-July-2016
English
Today’s symposium provides an opportunity to consider the role tax policy can play to drive innovation, promote inclusive growth, and encourage trade and investment. Tax policy has been, and remains, a sovereign issue. But our discussion here demonstrates the reality of the 21st century: talent, capital, and even physical infrastructure is increasingly mobile, and value creation is changing.
15-July-2016
English
GDP growth has been resilient in Turkey in recent years despite many global and regional headwinds. Annual growth averaged 4.4% in the last four years. Compared to before the global crisis (to 2007) real GDP is 33% higher and 6.4 million net new jobs have been created. This comfortably puts Turkey near the top of the class in terms of post-crisis performance amongst OECD countries.
7-July-2016
English
Labour market conditions are improving in OECD countries. In the fourth quarter of 2015, the employment rate was 0.6 percentage points below its pre-crisis rate, representing a deficit of 5.6 million jobs. This deficit is projected to narrow further this year, and close completely in 2017. We’re on the right track! But ─ as always ─ we need to dig a bit deeper to see the full picture.