NEW YORK, June 11, 2021 /PRNewswire/ -- As the 47th G7 summit commences in the UK marking President Biden's first official foreign trip, world-leaders have collectively promoted the need for a united front on global issues. But with tax reforms high on the agenda, tech and telecoms entrepreneur David McCourt, author of bestselling book Total Rethink, has warned "these defensive moves miss half the point."
The introduction of seismic tax reforms taking aim at multinationals and big tech firms in particular, outlines the G7's hope to force tech giants to share their wealth to fill the public purse.
McCourt, who spoke exclusively to the Irish Independent, commented: "With all the G7's attention on tax reform, what we're seeing is policymakers on the back-foot, acting defensively, as opposed to looking at where technology could take us a civilization.
"The burning question now is should US policymakers continue to be the protector of big tech and allow it to continue to self-police? Or should the US join the EU in trying to force tech firms to take more responsibility around transparency, interoperability, use of data, discrimination and truthfulness? Clear, specific revolutionary regulation must be a priority for world-leaders.
"Right now, China has a tech vision. Europe and the USA do not. That means the West is playing defence on this issue while China goes on the offensive. The West's dominance in tech could disappear as fast as American and Europe's industrial strength did unless both sides immediately rebuild the transatlantic rift caused mostly by Mr Trump."
Described by The Economist as possessing "incredible credentials as a telecoms revolutionary" McCourt has spent his 30-year career at the intersection of public policy, business and society. Having founded the first competitive phone company in America, McCourt invented the triple play that is voice, video and data – today considered the norm. In the process, McCourt led the charge for number portability – meaning people own their own phone number. Now we need to own our own data.
In a series of articles, Irish-American McCourt, who is chairman of NBI –delivering the Irish Government's $5billion National Broadband Plan – issued a stark warning to policymakers attending the summit.
"At this pivotal time, we must be considering more offensive moves. These would include much more support for Western research and development, as well as a unified transatlantic approach to issues such as the balance of data rights between tech companies and citizens. What's now needed is a total rethink among business and policymakers."
About David McCourt
David McCourt is the Chairman of National Broadband Ireland delivering Ireland's National Broadband Plan. A telecoms entrepreneur and Emmy Award-winning television producer, he is the author of the best seller Total Rethink (Wiley, 2019) and inaugural economist in residence at USCs Annenberg school.
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LinkedIn: David McCourt
SOURCE The Office of David McCourt