Chair would like to welcome you to the ECOSOC

Chair IntroductionHi, my name is Ian Chan and I am going to be co-chairing this conference. I would like to welcome you to the ECOSOC committee. I am currently in Year 11 and I study at Garden International School. I have attended 6 conferences as a delegate and this will be my first time co-chairing. I have enjoyed my MUN experience as a delegate and I feel that it has helped me become more confident in terms of my public speaking and debating. It has also helped me to take note of many of the world issues that we face today and has inspired me to take a more active role in understanding them.During KLMUN X, I hope it will be a very interactive platform where you will be able to participate actively and be able to express your views confidently. Please take every opportunity to freely share your opinions, I hope that all of you will not hesitate to speak regardless of the experience and exposure you’ve had in previous MUN conferences. ┬áPlease feel free to email me if you have any questions. My email address is [email protected] Regards,Ian ChanHistory of the CommitteeECOSOC or the Economic and Social Council was established in 1945. It was created to promote peace and economic and social cooperation between members. ECOSOC will follow THIMUN format. All procedures and voting will adhere to the THIMUN format.Topic 2: Measures to combat income inequality in Latin AmericaThe Current SituationLatin America remains the most unequal region in the world. In 2014, the richest 10% of the population in Latin America had 71% of the whole region’s wealth. The region’s poorly designed tax systems has led to the region losing billions of American dollars in unpaid tax revenues. The revenue that the Government is losing could be invested into trying to reduce poverty and in trying to close the inequality gap. Latin America’s tax system favours labour tax over capital gains. This means the assets of the wealthy are not taxable for property or inheritance gains. This simply increases the wealth of the rich while the poor pay heavy taxes on this meagre incomes. ECLAC estimates that Latin America lost more than $190 billion dollars in tax money lost. With growth in Latin America predicted at 0.1% in 2016, this could lead to many Latin Americans working near the minimum wage or just above it to slip back into poverty. With the poor Latin Americans only earning only $4 dollars a day and that being 24% of the population, this could mean that close to a quarter of the population could end up being unemployed and impoverished. This could be detrimental to the economy of Latin America as a whole.Relevant International Actions/Past UN effortsPossible SolutionsThe region could implement amendments to their tax system such that it includes inheritance tax and increases the taxes on the rich to help reduce the wage gap. The region could also invest more into education as the more educated the people are the more likely that they would earn more which will help to end the cycle of poverty that is occuring in Latin AmericaThe government could also introduce a new higher minimum wage so that the people working will earn more money which will help to reduce income inequality as the poorer are getting more money due to the higher minimum wage. Bibliographyhttps://www.weforum.org/agenda/2016/01/inequality-is-getting-worse-in-latin-america-here-s-how-to-fix-it/ http://www.businessinsider.my/wage-disparity-and-inequality-in-latin-america-2016-2/?r=US&IR=T https://prezi.com/a2ivmlv1fifv/case-study-latin-american-income-gap/

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