If not now, when? COVID-19 spurs global push to tackle wealth gap.


Governments worldwide, facing strong evidence that fallout from COVID-19 has widened wealth gaps as well as wrecking economies, have expanded social safety nets and in some cases begun exploring bolder ways of tackling the imbalances.

The massive injections of fiscal and monetary stimulus and ideas such as one-off taxes on the rich and basic income support for the poor potentially set the scene for the biggest egalitarian shift since generous welfare states emerged in western Europe after World War II.

“The silver lining from the pandemic is that maybe there’s an opportunity here for us to review and renegotiate the social contract,” said Francisco Ferreira, director at the International Inequalities Institute at the London School of Economics (LSE).

Recovery programs have set many major economies on the path of quick rebounds after a torrid 2020, and the International Monetary Fund estimates global GDP will grow 6% this year, a…

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