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obligations under international law to allocate the maximum available resources to
the progressive realization of economic, social and cultural rights. Policy coherence
between the action taken to implement different goals, as well as the initiatives to
implement the 2030 Agenda and related policy areas, including those on trade and
investment, border management and migration, must also be achieved. It is
therefore necessary for States, the private sector, donors and the international
community to work together to mobilize the resources needed in order to avoid
selectivity in relation to the targets and thus ensure the ove rall success of the
implementation of the Agenda and the maximization of its potential to fully
eradicate contemporary forms of slavery.
50. As established in the Addis Ababa Action Agenda of the Third International
Conference on Financing for Development, the development financing plan agreed
upon by States ahead of the formal endorsement of the 2030 Agenda, States bear the
primary responsibility for financing development within their own countries,
including the implementation of target 8.7 of the Sustai nable Development Goals. It
is recognized that States have different capacities and constraints when it comes to
achieving the Goals and many countries face a challenging fiscal environment.
There are many ways, however, that countries can mobilize more re sources for
development, human rights and the full and effective eradication of contemporary
forms of slavery. Governments worldwide are estimated to lose $3.1 trillion
annually to tax evasion, equivalent to about half of the world’s total expenditure on
health care. 42 Furthermore, it is estimated that between $21 trillion and $32 trillion
sits in offshore tax havens. 43 The impact that such resources could have on
development, human rights and the full and effective eradication of contemporary
forms of slavery is profound. Tackling corruption and tax evasion is essential in
both developing and higher-income countries. Developing countries can be highly
vulnerable to the loss of tax revenue. The amount lost is proportionally high relative
to the amount being spent on public services and such countries often have low tax
bases, owing to inefficiencies in policies and systems, and in many cases, a
significant degree of their labour market falling within the informal sector. If all
developing countries could mobilize just 15 per cent of their national income as tax
revenue, an additional $198 billion in revenue could be secured and utilized to
implement the goals relating to sustainable development. 44 Tax evasion also takes
resources from high-income countries that lose more in absolute terms. Given the
increasingly constrained fiscal environment conditioned by neo-liberal economic
doctrines and the financial and economic crash of 2008, as well as severe inequality
in many countries, these are precious resources that could contribute to improved
social protection floors for the most vulnerable, which can include victims of
contemporary forms of slavery, and/or providing additional official development
assistance to developing countries.
51. Another resource trap that is likely to significantly divert resources away from
the implementation of the Sustainable Development Goals and undermine policy
coherence in relation to sustainable development is sovereign debt. The proportion
of government revenue that is spent on foreign debt payments is significant. For
example, in 2015, El Salvador and Jamaica spent 18 and 20 per cent, respectively,
on debt payments because they do not meet the criteria for debt -relief schemes. 45
Regular external payments divert significant resources away from developing and
middle-income countries that could be spent on public services and development
programmes. Governments also regularly respond to external debt crises through
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43
44
45
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See HR/PUB/13/1.
Khan, Delivering Development Justice.
See HR/PUB/13/1.
Khan, Delivering Development Justice.
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