This year's G20: getting the fundamentals right

So, the G20 will continue to tackle businesses artificially generating profits to chase tax opportunities rather than market ones.

The essential principle is that you should normally pay tax in the country where you've earned the revenue.

My hope is to have a really frank leaders-only discussion in Brisbane about the biggest issues we face, including digitalisation and its implications for tax, trade and global integration.

Because taxes need to be fair, as well as low, in order to preserve the legitimacy of free markets.

For the leaders of the countries generating 85 per cent of the world's GDP merely to agree on the principles needed for taxation to be fair in a globalised economy would be a big step forward.

Then, there's the worldwide "infrastructure deficit", with the OECD estimating that over 50 trillion dollars in infrastructure investment is needed by 2030.

Developing countries need new infrastructure, developed countries need rebuilt infrastructure and almost every country is struggling to finance the infrastructure it needs.

It should be easier to get big new road, rail, port and dam infrastructure off the ground – and we can do that through attracting more private capital through sensible pricing policies and better regulatory practices.

As an "infrastructure prime minister", my hope as G20 host, is to bring policy-makers, financiers and builders together to identify practical ways of increasing long-term infrastructure financing.

What investors really need is greater confidence that governments won't change the rules after the investment has been made.

The G20 assumed its current form in response to the Crisis triggered by bad banking practices.

So at the heart of the G20's work is building the resilience of the financial sector: helping to prevent and manage the failure of globally important financial institutions; making derivatives markets safer; and improving the oversight of the shadow banking sector.