Carlos Cuerpo calls on G20 leaders to act and says election results show citizens want redistribution of wealth

Spain’s economy minister has urged the world’s richest countries to “be brave” and redouble efforts to reach an agreement on a global minimum tax on the world’s 3,000 billionaires, saying recent elections have shown citizens are demanding “redistribution of wealth”.

Speaking during a visit to London before the gathering of G20 leaders in Rio de Janeiro on Monday, Carlos Cuerpo said the plan had gained political momentum since the summer, when finance ministers agreed to work together to “ensure that ultra-high-net-worth individuals are effectively taxed”.