Money hidden in trusts could pay for climate solutions
Wealthy people have been hiding assets and income in trusts to avoid paying tax for years. This is true in all countries across the globe. In Australia alone, assets held in trusts are thought to exceed US$2 trillion, and tax avoided this way each year, in Australia alone, is in the many billions of dollars. The urgent upgrades to energy infrastructure required for Australia to become carbon neutral would easily be covered by these amounts. I propose laws to make the trust economy, that has profited for so long at the expense of citizens who do not cower away from taxes, become the funders of climate change solutions. by: 1. all countries making laws to ban trusts that have no obvious purpose other than tax avoidance; and 2. using the consequent deluge of tax into government coffers to fix up the energy grids to make them carbon neutral. This could be repeated around the world to fast track every single country's urgent energy infrastructure needs, and thus avoid climate catastrophe for everyone. All it takes is for everyone to vote for this idea, right here.