Colombia’s leftwing government unveils tax-the-rich plan to tackle poverty

President Gustavo Petro's proposed legislation could raise $11.5bn a year with measures including wealth tax and levy on oil exports

Colombia's new leftist government has proposed an ambitious plan to tax the rich and oil exports in an effort to combat poverty in one of the most unequal countries in the Americas.

If implemented, the Piketty-esque legislation proposed by President Gustavo Petro could raise more than $11.5bn annually to fund anti-poverty efforts, free public university and other social welfare programs.