Rishi Sunak praises G7 corporate tax agreement
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The G7 summit will see world leaders from seven of the most influential and economically advanced countries gather in an effort to discuss and try to resolve major global issues. Hosted by the UK this year, the gathering will take place in the seaside resort of Carbis Bay from June 11 to June 13. Guests will be at the Carbis Bay Hotel, which prides itself as being one of the region’s “premier waterside hotels”.
Cornwall has been chosen to host the all-important summit as it’s a “beautiful, historic and innovative region”.
The Government claims Cornwall will “reap the benefits of hosting the G7” and will “provide the best of Cornish hospitality for leaders, delegates and the world’s media”.
The summit is also expected to help the area by “boosting local businesses”.
Alongside the county’s stunning natural seascapes, the Government says it’s a “powerhouse for green innovation”.
This makes Cornwall the ideal setting for focusing on the recovery from the COVID-19 pandemic.
The area has also been picked as it’s one of the most eco-innovative parts of the country, making it perfect for showing off the UK’s progress on that front.
Visit Cornwall estimates the total economic impact to be £50million for the county, including an increase in future tourism.
The G7 group are all bound by having open values and being democratic and outward-looking societies.
Prime Minister Boris Johnson says he aims to use the summit to “intensify cooperation between the world’s democratic and technologically advanced nations”.
Priorities involve spreading wealth to all countries via new, innovative technologies, international trade, lasting jobs and global green recovery.
The G7 website states the aim of the summit is to strengthen the global economy, “combat tax evasion” and save “27million lives from AIDS”, among other goals.
The annual gathering gives leaders from the seven countries the chance to “meet to discuss their shared values and goals”.
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Who is part of the G7?
The G7, as the name suggests, is comprised of seven countries and one authority area – the European Union.
The members of G7 2021 are:
- European Union
Russia joined the group in 1998, making it the G8, but was excluded in 2014 for its annexing of the Crimea area.
China has never been a member despite its tremendous state wealth and global influence in recent years – and the fact it’s the country with the biggest population.
However, as it has a relatively low rate of wealth per person, it means China isn’t seen as an advanced economy in the way other members are.
Representatives from the European Union have been present historically, while this year sees India, South Korea and Australia invited to the talks.
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