The world is experiencing multiple crises, including increasing global tension, skyrocketing debt levels, and climate change. Lower-income countries (LICs) are bearing the brunt of these crises. Their finances, both from domestic sources and international aid, are not growing sufficiently to meet their needs. Their expenditure requirements are higher than ever – improving services, expanding social protection, and promoting investment all add to the bill. This policy brief argues that one of the tools that LIC governments have at their disposal is particularly under-utilised – taxing the wealthy more effectively.
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