OECD calls for higher property taxes to fight debt

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PARIS: The OECD on Wednesday (Sep 25) slightly raised its world economic growth forecast for 2024 but called for higher property and environmental taxes to combat soaring debt in many countries.

"On the revenue side, efforts to eliminate distortive tax expenditures and enhance revenues from indirect, environmental and property taxes are called for in many countries," the organisation said.

"Without sustained action, future debt burdens will rise significantly further and scope to react to future downside shocks will be increasingly limited," the OECD warned.

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Category: EconomyBusiness

Markets: SingaporeArgentinaBrazilGermanyIndiaIndonesiaJapanUkraineUnited States

Topics: Growth Debt Oecd Economic Cent Spending Outlook Taxes Global Future Countries

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-25 @ 23:17:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 574 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 22708542

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