Communique recognizes importance of tax policies

The G20 finance meeting has published a communique. It says that global economic recovery continues but remains weaker than desirable. And the G20 nations are taking action to foster confidence and support growth.

The communique recognizes the important role of tax policies to maintain strong, sustainable and balanced growth, and how a fair and efficient international tax environment diminishes conflicts among tax systems. It recognizes that excess capacity in steel and other industries is a global issue which requires collective responses.

Financial leaders also reaffirm their commitment to rationalize and phase out inefficient fossil fuel subsidies.