Spending by governments is falling short of what is needed to achieve the Millennium Development Goals (MDGs) by one-third – and beyond 2015, the Sustainable Development Goals (SDGs) will require at least $1.5 trillion extra each year. Based on lessons from tracking country budgets, this report looks at how the SDGs should be financed and suggests: doubling tax revenue; radically overhauling global tax rules; doubling concessional development cooperation and improving the allocation and effectiveness of financing; and raising $500bn in public innovative financing. To have a chance of achieving the SDGs, spending also needs to be reoriented to fight inequality, and be much more transparent and accountable to the world’s citizens.
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