The G7 on Sunday advanced a plan to impose a global minimum corporation tax and a collective crackdown on avoidance, arguing it would help tackle inequality.

At a summit in southwest England, G7 leaders endorsed an agreement struck by their finance ministers last week to adopt a minimum floor for corporation tax of 15 per cent.&nbsp;

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"With this, we have taken a significant step towards creating a fairer tax system fit for the 21st century, and reversing a 40-year race to the bottom," the G7 said in their concluding statement.

"Our collaboration will create a stronger level playing field, and it will help raise more tax revenue to support investment and it will crack down on tax avoidance."&nbsp;

The proposal, which now goes to the meeting of the G20 nations in Italy next month, is aimed at snaring more taxes from revenue-hopping multinational companies, especially tech giants.

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US President Joe Biden, who had proposed the minimum rate, welcomed its backing by his fellow leaders from Britain, Canada, France, Germany, Italy and Japan.

"Too many corporations have been engaged in what are essentially tax savings, deciding that they would pay considerably less in other environments around the world," Biden told reporters after the G7.

"But this is going to make sure there is a minimum tax and I'm going to move on this at home as well.&nbsp;

"And this agreement is going to help arrest the race to the bottom that has been going on among nations protecting corporate investment at the expense of priorities like protecting our workers and investing in infrastructure," he said.

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G7 members Britain, France and Italy have already imposed their own special "digital services tax" to recoup more revenue from where tech companies have been generating their pandemic-fuelled sales.

US behemoths including Apple, Facebook and Google have been booking their European profits entirely in Ireland, where the effective corporation tax rate is just 12.5 per cent.

But the G7 trio has indicated they will drop the unilateral taxes if a broader agreement is reached at the G20, which includes China, and at the Organization for Economic Cooperation and Development.

Also read |&nbsp;<a href="https://www.wionews.com/world/china-cautions-g7-small-groups-dont-rule-the-world-391151">China cautions G7: 'Small' groups don't rule the world</a>

While winning the rest of the G7 over to his plan, Biden still faces resistance in the US Congress, where Republicans are leery of the Democrat's ambitious tax-and-spend plans.

The G7 on Sunday advanced a plan to impose a global minimum corporation tax and a collective crackdown on avoidance, arguing it would help tackle inequality. At a summit in southwest England, G7 leaders endorsed an agreement struck by their finance ministers last week to adopt a minimum floor for corporation tax of 15 per cent.

The G7 on Sunday advanced a plan to impose a global minimum corporation tax and a collective crackdown on avoidance, arguing it would help tackle inequality. At a summit in southwest England, G7 leaders endorsed an agreement struck by their finance ministers last week to adopt a minimum floor for corporation tax of 15 per cent. Also read | G7 vows action on Covid vaccines, Climate Change "With this, we have taken a significant step towards creating a fairer tax system fit for the 21st century, and reversing a 40-year race to the bottom," the G7 said in their concluding statement. "Our collaboration will create a stronger level playing field, and it will help raise more tax revenue to support investment and it will crack down on tax avoidance." The proposal, which now goes to the meeting of the G20 nations in Italy next month, is aimed at snaring more taxes from revenue-hopping multinational companies, especially tech giants. Also read | Biden says 'autocrat' Putin's Russia might be weaker than it seems US President Joe Biden, who had proposed the minimum rate, welcomed its backing by his fellow leaders from Britain, Canada, France, Germany, Italy and Japan. "Too many corporations have been engaged in what are essentially tax savings, deciding that they would pay considerably less in other environments around the world," Biden told reporters after the G7. "But this is going to make sure there is a minimum tax and I'm going to move on this at home as well. "And this agreement is going to help arrest the race to the bottom that has been going on among nations protecting corporate investment at the expense of priorities like protecting our workers and investing in infrastructure," he said. Also read | G7 adopts global infrastructure plan, an answer to China's Belt and Road Initiative G7 members Britain, France and Italy have already imposed their own special "digital services tax" to recoup more revenue from where tech companies have been generating their pandemic-fuelled sales. US behemoths including Apple, Facebook and Google have been booking their European profits entirely in Ireland, where the effective corporation tax rate is just 12.5 per cent. But the G7 trio has indicated they will drop the unilateral taxes if a broader agreement is reached at the G20, which includes China, and at the Organization for Economic Cooperation and Development. Also read | China cautions G7: 'Small' groups don't rule the world While winning the rest of the G7 over to his plan, Biden still faces resistance in the US Congress, where Republicans are leery of the Democrat's ambitious tax-and-spend plans.

G7 leaders vow to end 'race to bottom' on taxes

From blimps to Pikachus, protesters gather to demand G7 action

Police said they had arrested a man for a bomb hoax near the media centre, set up to cover the&nbsp;G7&nbsp;summit south-west England after officers were forced to evacuate a hotel in response to reports of a suspicious package early on Thursday morning.

Officers were called out to the hotel in Falmouth, where most media covering the meeting of the global leaders are based, at about 3.15 a.m. local time after the package was found.

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A Royal Navy bomb disposal unit was called in and declared unviable, but only after about 100 people from a hotel and surrounding properties were evacuated.

Police said a 20-year-old man from Falmouth had been arrested on suspicion of a bomb hoax and was now in custody.

US&nbsp;President Joe Biden arrived in Britain on Wednesday evening and he is staying at the seaside resort of Carbis Bay, about 25 miles away from Falmouth.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-joe-biden-in-europe-all-you-need-to-know-390468/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

There is a large security operation in place for the&nbsp;G7&nbsp;event, the first in-person meeting of the leaders of major developed economies for nearly two years, with 5,000 police officers drafted in from across Britain.

Police have closed off roads and coastal paths to Carbis Bay, the small seaside resort which is hosting the event and erected a steel fence around the venue, with armed officers on patrol.

Activists have vowed to stage disruptive and annoying protests during the event to highlight their causes.

Police said they had arrested a man for a bomb hoax near the media centre, set up to cover the G7 summit south-west England after officers were forced to evacuate a hotel in response to reports of a suspicious package early on Thursday morning.

Police said they had arrested a man for a bomb hoax near the media centre, set up to cover the G7 summit south-west England after officers were forced to evacuate a hotel in response to reports of a suspicious package early on Thursday morning. Officers were called out to the hotel in Falmouth, where most media covering the meeting of the global leaders are based, at about 3.15 a.m. local time after the package was found. Also read | Celebrities call on G7 to share vaccines with poor nations A Royal Navy bomb disposal unit was called in and declared unviable, but only after about 100 people from a hotel and surrounding properties were evacuated. Police said a 20-year-old man from Falmouth had been arrested on suspicion of a bomb hoax and was now in custody. US President Joe Biden arrived in Britain on Wednesday evening and he is staying at the seaside resort of Carbis Bay, about 25 miles away from Falmouth. There is a large security operation in place for the G7 event, the first in-person meeting of the leaders of major developed economies for nearly two years, with 5,000 police officers drafted in from across Britain. Police have closed off roads and coastal paths to Carbis Bay, the small seaside resort which is hosting the event and erected a steel fence around the venue, with armed officers on patrol. Activists have vowed to stage disruptive and annoying protests during the event to highlight their causes.

Man held after UK police had to evacuate hotel for bomb hoax near G7 summit

To highlight the importance of producing more recyclable and reusable products, a sculptor has made 'Mount Rushmore'&nbsp;in Cornwall.

Ahead of the G7 leaders' meet, Joe Rush, made a structure out of electronic waste depicting world leaders, namely UK Prime Minister Boris Johnson, Japan's Prime Minister Yoshihide Suga, French leader Emmanuel Macron, Italy's PM Mario Draghi, Canadian leader Justin Trudeau, Germany's Chancellor Angela Merkel and US President Joe Biden.

<a href="https://www.wionews.com/videos/meet-grace-the-healthcare-robot-covid-19-created-390437">WATCH |</a>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/meet-grace-the-healthcare-robot-covid-19-created-390437/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

He produced the structure to highlight that all electronic items need to be "repairable or made to last longer because the stuff is going into landfill," he said.

The structure has been erected right opposite the Carbis Bay Hotel, where the leaders will meet to conduct the summit, and will also be visible when the leaders fly over it.

“We have this looking at them and hopefully we're going to prick their conscience and make them realise they're all together in this waste business," Rush said. "The key message is 'talk to each other' and let's sort this mess out."

To highlight the importance of producing more recyclable and reusable products, a sculptor has made 'Mount Rushmore' in Cornwall. Ahead of the G7 leaders' meet, Joe Rush, made a structure out of electronic waste depicting world leaders, namely UK Prime Minister Boris Johnson, Japan's Prime Minister Yoshihide Suga, French leader Emmanuel Macron, Italy's PM Mario Draghi, Canadian leader Justin Trudeau, Germany's Chancellor Angela Merkel and US President Joe Biden.

To highlight the importance of producing more recyclable and reusable products, a sculptor has made 'Mount Rushmore' in Cornwall. Ahead of the G7 leaders' meet, Joe Rush, made a structure out of electronic waste depicting world leaders, namely UK Prime Minister Boris Johnson, Japan's Prime Minister Yoshihide Suga, French leader Emmanuel Macron, Italy's PM Mario Draghi, Canadian leader Justin Trudeau, Germany's Chancellor Angela Merkel and US President Joe Biden. WATCH | He produced the structure to highlight that all electronic items need to be "repairable or made to last longer because the stuff is going into landfill," he said. The structure has been erected right opposite the Carbis Bay Hotel, where the leaders will meet to conduct the summit, and will also be visible when the leaders fly over it. “We have this looking at them and hopefully we're going to prick their conscience and make them realise they're all together in this waste business," Rush said. "The key message is 'talk to each other' and let's sort this mess out."

'Mount Recyclemore': Sculptor makes structure out of electronic waste before G7 summit

The second&nbsp;India-Nordic summit that was to take place in June in person has been postponed since Indian Prime Minister Narendra Modi won't be travelling abroad amid the&nbsp;pandemic.&nbsp;

The summit was to take place in Denmark and to include all five&nbsp;Nordic countries - Denmark, Norway, Sweden, Finland and Iceland.

"it is no secret that PM Modi is not travelling in June, so, therefore, the India-Nordic summit has been postponed," said the ambassador of Denmark&nbsp;Freddy Svane at a virtual meet hosted by the India Writes Network.&nbsp;The physical summit is expected to happen later and a "timespan" is being looked into.

The first India-Nordic summit took place in Sweden's capital Stockholm in April 2018 and is a unique format that brings together India along with all the countries in the Nordic region. A similar&nbsp;format meet has was aligned with the US in May 2016 when the then US President Barack Obama had held meetings with Nordic countries.

New Delhi has been increasing its engagement with the Nordics or the northern European countries,&nbsp;which are known for clean technology, renewables, and a high standard of living.

Since last year, Indian PM Modi has had virtual summits with three&nbsp;Nordic countries - Denmark, Sweden, and Finland&nbsp;which is highest in any specific region of the world.

Earlier, Modi was to travel to the UK as well to participate in the G7 leaders meet in June. India's Ministry of External Affairs announced earlier this month that the visit stands cancelled "given the prevailing COVID-19 situation."&nbsp;

India was invited as a guest to participate at the G7 by UK Prime Minister Boris Johnson who is the chair of the grouping. This is is the third&nbsp;time in a row that India is being invited for G7, first by the French in 2019, Americans in 2020&nbsp;and now the British this year.&nbsp;

The second India-Nordic summit that was to take place in June in person has been postponed since Indian Prime Minister Narendra Modi won't be travelling abroad amid the pandemic.

The second India-Nordic summit that was to take place in June in person has been postponed since Indian Prime Minister Narendra Modi won't be travelling abroad amid the pandemic. The summit was to take place in Denmark and to include all five Nordic countries - Denmark, Norway, Sweden, Finland and Iceland. "it is no secret that PM Modi is not travelling in June, so, therefore, the India-Nordic summit has been postponed," said the ambassador of Denmark Freddy Svane at a virtual meet hosted by the India Writes Network. The physical summit is expected to happen later and a "timespan" is being looked into. The first India-Nordic summit took place in Sweden's capital Stockholm in April 2018 and is a unique format that brings together India along with all the countries in the Nordic region. A similar format meet has was aligned with the US in May 2016 when the then US President Barack Obama had held meetings with Nordic countries. New Delhi has been increasing its engagement with the Nordics or the northern European countries, which are known for clean technology, renewables, and a high standard of living. Since last year, Indian PM Modi has had virtual summits with three Nordic countries - Denmark, Sweden, and Finland which is highest in any specific region of the world. Earlier, Modi was to travel to the UK as well to participate in the G7 leaders meet in June. India's Ministry of External Affairs announced earlier this month that the visit stands cancelled "given the prevailing COVID-19 situation." India was invited as a guest to participate at the G7 by UK Prime Minister Boris Johnson who is the chair of the grouping. This is is the third time in a row that India is being invited for G7, first by the French in 2019, Americans in 2020 and now the British this year.

Amid COVID-19 worries, second India-Nordic summit postponed

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G7 leaders vow to end 'race to bottom' on taxes

From blimps to Pikachus, protesters gather to demand G7 action

Man held after UK police had to evacuate hotel for bomb hoax near G7 summit

'Mount Recyclemore': Sculptor makes structure out of electronic waste before G7 summit

Amid COVID-19 worries, second India-Nordic summit postponed