British finance minister Rishi Sunak called for more progress on ensuring financial markets support lower greenhouse gas emissions, after speaking with other finance ministers and central bankers from the G7 group of rich nations on Friday.
The United States has proposed a global minimum corporation tax rate of 15per cent, well below G7 levels, but above those in some countries such as Ireland. But Britain remains concerned the plans do not go far enough on taxation of tech giants such as Amazon, Google and Facebook. Irish finance minister Paschal Donohoe - who attended the meeting in his capacity as chair of the euro zone's group of finance ministers - said the COVID-19 pandemic had reinforced the need for international cooperation.
Britain will have another chance to get agreement when Prime Minister Boris Johnson hosts a meeting of G7 heads of government on June 11-13.