Populist policies will lead to higher taxes: DBS chief Piyush Gupta

Piyush Gupta says lack of job creation and retirement savings fuelling anger, populism

DBS chief executive Piyush Gupta (above) said civil protests last year were testament to the mass outpouring of public anger towards income inequality, among other issues. Left: Protesters demonstrating against pension reforms in France yesterday.
Above: Protesters demonstrating against pension reforms in France yesterday.PHOTO: EPA-EFE
DBS chief executive Piyush Gupta (above) said civil protests last year were testament to the mass outpouring of public anger towards income inequality, among other issues. Left: Protesters demonstrating against pension reforms in France yesterday.
DBS chief executive Piyush Gupta (above) said civil protests last year were testament to the mass outpouring of public anger towards income inequality, among other issues.

Widening income inequality across the world will keep the debate on hiking wealth taxes and estate duties on the boil, according to the chief executive of DBS Banking Group.

Rising Gini coefficients across the world amid a lack of job creation and retirement savings may continue to fuel civil unrest in some countries and influence the global economic policy debate on distribution of wealth, said DBS chief Piyush Gupta yesterday.

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A version of this article appeared in the print edition of The Straits Times on January 10, 2020, with the headline 'Populist policies will lead to higher taxes: DBS chief'. Subscribe