The greatest threat to democracy in 80 years: Stop the billionaire coup
Guest blog from Luc Triangle, Secretary-general of the International Trade Union Confederation
This 8 May, we remember a pivotal moment in human history: working people were at the forefront of the defeat of fascism in 1945. What came next was just as important. Workers and their trade unions shaped a new world order based on democracy, human and trade union rights, and justice.
Universal fair taxation. For decades, governments have allowed the richest individuals and corporations to avoid paying their fair share. It is time for the fair taxation of wealth and capital, the closure of corporate tax loopholes, and a binding United Nations Framework Convention on Tax to ensure multinational corporations pay taxes where they earn their profits.
Regulation for corporations, not for individual lives. Deregulation has handed power to unelected corporate actors while stripping rights from workers, women, migrants and minorities. Mandatory due diligence, binding instruments on supply chains and stronger regulation of corporate lobbying are essential to restore balance.
Public, good quality education for all children. Education is a right, not a commodity. Governments must reverse austerity, invest in public education, and ensure fair conditions for teachers and students alike.
Public services for the people, not for profit. Privatisation has eroded essential services, deepening inequality. Privatisation must end and be replaced by a massive reinvestment in public infrastructure to rebuild trust and prosperity.
Healthcare, retirement and social protections. This is a human right, yet billions lack even basic social protection coverage. Governments must expand funding, restore benefits and support health and care workers with fair wages and decent conditions.
Living wages and workplace democracy for all. Stagnant wages and soaring corporate profits have deepened poverty and injustice. It is time for governments to guarantee living minimum wages, strengthen collective bargaining and protect union rights.
Climate action with a Just Transition. Workers are facing the horror of climate chaos while elites plan to escape its consequences. We need binding climate plans that include commitments to quality jobs, strong labour rights and the direct involvement of workers unions.
Freedom and equality for all. Billionaire-backed far-right forces are fuelling a backlash against women, migrants, LGBTQI+ people and marginalised communities. Governments must fully implement international commitments like ILO Convention 190, enforce protections, and fund inclusive policies.
Peace not war. Militarism diverts resources away from people’s true needs. A peaceful future demands disarmament to fund reinvestment in social services, and a partnership with workers’ unions to rebuild democratic societies.
Migration and justice. Corporations move freely across borders to maximise profits, while migrants face violence, detention and criminalisation. Migrants are workers, not criminals. Safe, legal migration pathways, equal treatment and the right to organise are essential pillars of democratic societies.
Much of the post-war system of multilateralism has been hollowed out. Mainstream political parties have collaborated with the agenda of deregulation, neoliberalism and neglect, leaving vast swathes of people disillusioned and disenfranchised, and creating a vacuum eagerly filled by far-right extremists and billionaires alike. But collapse is not inevitable. There is an alternative. Together, we can imagine and build a future where power is shared, not hoarded; where economies serve people, not corporations; and where international institutions are accountable to those they are meant to serve. As we honour the sacrifices of those who defeated fascism, we must summon the same courage and solidarity to resist and defeat the billionaire coup and forge a democratic renewal. The workers of the world are taking urgent action. Governments and institutions must do the same, before it is too late.
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