When the far-right wins power, it discredits and defunds democratic global institutions ; reduces taxes on the wealthy and on corporations; undercuts living wages; favours bilateral aid financing over multilateralism ; and cracks down on human, trade union, and democratic rights, as evidenced by the ITUC’s Global Rights Index . This fundamental flaw results in progressive policies being blocked and inequalities around the world being reinforced. However, reformed global institutions can play a transformative role in building a new economic model, one that delivers a New Social Contract for workers in which decent jobs, social protections, inclusion, equality, workers’ rights and decent wages are guaranteed.