Francois Hollande told ways to combat inequality between rich and poor

17 May, 2018, 16:30 364
Francois Hollande told ways to combat inequality between rich and poor

Firstly, the country should aim at education, healthcare and innovation, Hollande says.

Former President of France Francois Hollande took part in a panel session of the Astana Economic Forum “Galloping Growth in Inequality. Combating Financial Segregation” in the Congress Centre, correspondent reports.  

Francois Hollande talked about the inequality that hinders economic development in the world.

“Inequality concerns both developing countries, as well as developed and poor ones. This issue should be a matter of discussion as the economy finds its growth sources. We observe that such organizations as the World Bank, are concerned about the increasing inequality level. And it creates significant conflicts,” said the Former President of France.

According to him, these conflicts are connected with the distribution of wealth that can result in the gap between rich and poor.  

“In Europe, on one level we find that the middle class does not receive sufficient wealth distribution from work. The only solution to inequality in the poorest countries is that the development policy should be organized properly. We should reach those things that are prescribed by our international obligations. Therefore, we should change the approaches, should focus on education, healthcare and innovation. Innovation could be the key direction in combating inequality. This can help the people,” says the politician.

 Francois Hollande added that it is owing technologies the population will develop and partnership with developing countries will become more smoothly.

“Thus, the new generation could be use the possibly progress. We note that in developed countries a huge gap between shareholders, heads of enterprises and workers occur. This can influence the model of economic development of most enterprises, if only we do not change the phenomenon. That implies that there is a income distribution rule. The income of heads and shareholders should be curtailed. The tax policy could also deteriorate inequality even greater, instead of bringing harmony at the world level,” said Hollande.

We note that the AEF-2018 started its work in the capital that is held until May 19. The Forum will be attended by almost 500 guests from 24 states of the world.

The Forum was opened by head of state Nursultan Nazarbayev where he told about the five global megatrends of global development.

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