What to look out for at the G20 summit

Leaders are piling into Cannes. Here are the top topics on the agenda at this year's conference.

Promotional posters lining the streets around this year's G20 summit on the French Riviera carry the message: "L'Histoire s'écrit à Cannes" ["The history is written in Cannes"]. This is a lot for the host, Nicolas Sarkozy, to live up to. Even before France took presidency of the G20 at the start of this year, Sarkozy had publicly been relishing his time in the international spotlight. His ambitious agenda for "reforming the international monetary system" and "strengthening the social dimension of globalisation" would portray him as a global statesman, boosting his image at home and paving the way for his re-election bid in France next year.

Yet all is not going smoothly. Presidents, chancellors and prime ministers are piling in to Cannes ahead of the short official summit -- which is just 24 hours long -- for emergency talks on saving the system, not reforming it.

His global vision has been overshadowed by problems closer to home. The slow-coming European rescue deal, which did little for anyone's political legacy, has been thrown into fresh uncertainty as Greece announced its intention to hold a referendum on the terms of its aid package.

Sarkozy was clearly rattled, speaking publicly of his shock and the need to stick to the plan, something he will re-iterate during emergency talks between himself, Angela Merkel and George Papandreou this evening. This story has dominated the headlines, along with the chances of China's Hu Jintao throwing the euro a lifeline in Cannes.

Sarkozy is not headline news. During the first day of official G20 business tomorrow, he will be hoping to make his mark and bring the spotlight back on him.

He has long advocated a financial transaction tax as a means of raising money for development and climate change. At his behest, Bill Gates will report on the issue to G20 leaders. He is expected to give his backing to the tax, which could raise $50bn a year.

France has been working to secure a "coalition of the willing" -- a group of supportive countries such as France, Germany, South Africa and others -- that circumvents opposing countries such as the UK and US. The tax has long been popular in France, and it would be a lasting legacy of France's G20 presidency. Sarkozy has been banking on this, and not crisis management closer to home, to be the history that is written in Cannes.

Simon Chouffot is a freelance journalist and media specialist

Simon Chouffot is a spokesperson for the Robin Hood Tax campaign and writes on the role of the financial sector in our society.

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Is anyone prepared to solve the NHS funding crisis?

As long as the political taboo on raising taxes endures, the service will be in financial peril. 

It has long been clear that the NHS is in financial ill-health. But today's figures, conveniently delayed until after the Conservative conference, are still stunningly bad. The service ran a deficit of £930m between April and June (greater than the £820m recorded for the whole of the 2014/15 financial year) and is on course for a shortfall of at least £2bn this year - its worst position for a generation. 

Though often described as having been shielded from austerity, owing to its ring-fenced budget, the NHS is enduring the toughest spending settlement in its history. Since 1950, health spending has grown at an average annual rate of 4 per cent, but over the last parliament it rose by just 0.5 per cent. An ageing population, rising treatment costs and the social care crisis all mean that the NHS has to run merely to stand still. The Tories have pledged to provide £10bn more for the service but this still leaves £20bn of efficiency savings required. 

Speculation is now turning to whether George Osborne will provide an emergency injection of funds in the Autumn Statement on 25 November. But the long-term question is whether anyone is prepared to offer a sustainable solution to the crisis. Health experts argue that only a rise in general taxation (income tax, VAT, national insurance), patient charges or a hypothecated "health tax" will secure the future of a universal, high-quality service. But the political taboo against increasing taxes on all but the richest means no politician has ventured into this territory. Shadow health secretary Heidi Alexander has today called for the government to "find money urgently to get through the coming winter months". But the bigger question is whether, under Jeremy Corbyn, Labour is prepared to go beyond sticking-plaster solutions. 

George Eaton is political editor of the New Statesman.