RIO DE JANEIRO (AP) — Brazil’s finance minister told his peers Thursday at a G20 meeting in Sao Paulo that countries should implement a global tax on the super-rich in an effort to tackle rampant tax evasion.

Fernando Haddad said tax evasion can be resolved through international cooperation so that “these few individuals make their contribution to our societies and to the planet’s sustainable development.”

He added that Brazil is pushing for a declaration on international taxation by G20 members that he hopes would be ready in July...

According to a 2023 study by advocacy group Tax Justice Network, countries around the world could lose up to $4.8 trillion in tax revenue over the next decade due to tax havens. And a report earlier this year by the EU Tax Observatory cited by Haddad, found that billionaires worldwide have effective tax rates equivalent of between 0% and 0.5% of their wealth.

“Let them eat Corn Flakes” appears to be Kellogg’s CEO Gary Pilnick’s advice to cash-strapped shoppers who are spending the highest portion of their income on food than at any point in the last 30 years.

In an interview with CNBC last week, WK Kellogg CEO Pilnick said the company was advertising cereal for dinner to consumers looking for more affordable options. “Give chicken the night off,” the ad’s cheery tagline reads. WK Kellogg owns cereals such as Frosted Flakes, Froot Loops, Corn Flakes, Raisin Bran and others.

“The cereal category has always been quite affordable, and it tends to be a great destination when consumers are under pressure,” Pilnick said. “If you think about the cost of cereal for a family versus what they might otherwise do, that’s going to be much more affordable.”

His advice hasn’t landed well with people frustrated by spending 26% more on groceries since 2020; on social media the campaign is being seen as insensitive.