Protester tries to enter hotel in Sydney where G20 world leaders are staying

UPDATE: A LONE protester has tried to gain access to one of the hotels seconded for the G20 finance ministers’ meeting in Sydney.

A LONE protester has tried to gain access to one of the hotels seconded for the G20 finance ministers’ meeting in Sydney.

Bill Johnstone, 67, said he wants the economic body to crack down on tax havens.

Holding a sign protesting the future fund and accusing it of owning 43 tax havens, Johnstone tried to gain entry to the Intercontinental hotel in Sydney at about 1130 today.

After trying to access the stairs leading to the G20 media room, he was escorted out by security.

Outside, the Mr Johnstone was briefly arrested by police.

“I have to call my wife and tell her I’ll be late for the opera,’’ the man said.

The Sydney based retiree later told reporters he was inspired to protest because one of the key agenda items of the G20 was to crack down on corporations who use tax havens.

“I don’t believe you can say to corporations ‘you can’t have tax havens’, but it’s OK for us to do it.

News_Image_File: Point taken ... protester Bill Johnstone is arrested but not charged by police at the Intercontinental Hotel.

“Sovereign funds are not of a higher moral order than an ordinary corporation.’’ Later Mr Johnstone shook hands and shared a joke with G20 security outside the hotel.

Large protests traditionally associated with the powerhouse meeting are so far absent this year.

Across the road, at the edge of Sydney’s botanic gardens, a small group of about 20 activists have gathered to protest the current unrest in the Ukraine.

It’s costing taxpayers nearly half a billion dollars — nearly ten times the cost of securing our United Nation’s seat — but Australia’s presidency of the G20 kicks off in earnest today.

Finance ministers and central bankers from 20 countries, including the United States and China, have landed in Sydney for two days of meetings: a curtain raiser to the G20 leaders meeting in Brisbane, to be chaired by Prime Minister, Tony Abbott, in November.

More than five hundred delegates — including the world’s most powerful woman US Federal Reserve Chairwoman, Janet Yellen — have descended on the harbour city.

News_Image_File: Lone protester ... Bill Johnstone is spoken to by security at the Intercontinental Hotel in Sydney.

Australia’s Treasurer, Joe Hockey, who will chair the weekend’s meetings, says hosting the G20 is a chance to showcase the Australian economy to world.

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Treasurer Hockey is urging ministers to commit to a firm target to boost global growth. “Economic growth and jobs: that’s what’s going to deliver the prosperity that the world needs,” Mr Hockey said yesterday.

The government has budgeted $370.2 million to pay for venue hire, accommodation, security, transport, IT and staffing costs for a series of meetings throughout the year, culminating in November’s leaders meeting.

News_Image_File: Safeguards ... Australian Police Force members secure inner-city areas during the G20 Finance Ministers and Central Bank Governors meeting in Sydney.

The Brisbane meeting will attract more than 4,000 delegates, including Barack Obama and Angela Merkel, and will be the biggest and most important gathering of foreign leaders on Australian soil in history.

An additional $97.5 million will be given to Queensland police to pay for extra law enforcement and policing.

The program director of G20 studies at the Lowy Institute, Mike Callaghan, said majority of the total $468 million price tag was the cost of providing security for visiting world leaders.

“That’s the price of bringing leaders here. You shouldn’t really worry about that. The big cost you should worry about is the potential for missed opportunity.”

Mr Callaghan, a former senior Treasury official, said the Prime Minister should outline a comprehensive strategy for boosting Australian jobs and growth for Australia and encourage other world leaders to do the same.

News_Rich_Media: Joe Hockey will push for a global growth target at this weekend's G20 finance meeting. But as Adam Creighton explains, these meetings are yet to produce any tangible results.

“You’ve got to make sure world leaders come prepared and that they don’t just step on a plane to come here, take off and say ‘OK, where’s my folder? Where’s my briefing?’ That’s a waste of money.”

Tax evasion by multinational companies like Google and Apple is also on this weekend’s agenda, with countries expected to sign on to common reporting standards to close tax loopholes.

Treasurer Hockey yesterday signed an agreement with the US to require Australian companies to collect information about American clients and report this to the internal revenue service in the US.

A Communique to be released on Sunday afternoon is likely to include a commitment to boost global growth and jobs, invest more in infrastructure and force multinational companies to disclose more information about their tax affairs.

News_Image_File: Like-minded men ... British finance minister George Osborne (left) shakes hands with Communications Minister Malcolm Turnbull at an event in Sydney. AFP PHOTO/William WEST

To avoid a repeat of the protests that dogged the G20 meeting in Melbourne in 2006, the Queensland government has passed legislation to establish a restriction zone around the meeting area and to give police extra powers to deal with protesters.

Private security companies, federal and local police will also be on alert to avoid the embarrassing incident during APEC in 2007 when a group of ABC comedians formed a fake motorcade and breached security.

Inner city residents of Brisbane’s exclusion zone will be prohibited from leaving or entering their homes when country motorcades are passing by.