This
8 May, we remember a pivotal moment in human history:
working people were at the forefront of the defeat of
fascism in 1945, writes ITUC General Secretary Luc
Triangle.
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.
But now, in 2025, once again we are called
upon to defend democracy against an existential threat. This
time, it comes from a number of internationally-networked,
far-right billionaires and politicians who seek to seize
control of global affairs no matter the cost to society at
large.
The billionaire coup
At the
International Trade Union Confederation (ITUC), representing
200 million workers in 169 countries and territories, we see
the danger clearly. An alliance of tech elites, corporate
giants and far-right political forces is advancing what can
only be described as a billionaire coup
against democracy. These extraordinarily wealthy few are
pursuing a shared objective to exploit economic despair
caused by decades of austerity politics, dismantle hard-won
rights and assault democratic institutions that were
painstakingly built to serve the common good.
Their
goal is clear: to shift power away from the people and
entrench it permanently in the hands of a global oligarchy.
They act through political capture, corporate lobbying and
disinformation campaigns, tearing apart the social contract
upon which democracy stands. If they succeed, the
consequences for workers, communities and the planet, will
be catastrophic.
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The ITUC has sounded the alarm in an
open
letter to heads of state, governments and international
institutions. Our message is simple: the time for
half-measures is over. We must stop the billionaire coup and
take back democracy through a new social
contract written for working people, by working
people.
The solution
This New Social Contract
is not a dream; it is a necessity. It is also a framework
democratically adopted by trade unions around the world in
2022. Now in 2025, we are drawing attention to ten of its
concrete demands. These ten policy areas are those which the
billionaire coup is working rapidly to undermine and thus
which must most urgently be
addressed:
- 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.
