SYRIA CRISIS APPEAL

Tagged: tax havens

Press Release
Oxfam's G8 'Big Heads' arrive in Northern Ireland. Photo: Jonathan Porter/Oxfam

During the two days of the G8 Summit, which starts today, $2.2 billion in illicit flows will have hemorrhaged from developing countries into tax havens and land one and a half times the size of Manhattan sold off to foreign investors.

Press Release
Oxfam Big Heads: G8 arrives in Northern Ireland. Photo: Oxfam

Since 2000, companies in G8 countries have acquired land in developing countries more than the size of the whole of Ireland. This is enough to feed 96 million people every year – almost the total population of the UK and Canada.

Press Release

Oxfam estimates that the proposed EU aid cuts could be enough to have lifted more than 4.6 million people in the poorest countries out of extreme poverty. The proposed cuts to emergency aid alone would mean the EU is turning a blind eye on the plight of 150 million people affected by disasters or conflicts.

Press Release
Drought-affected grain in Burkina Faso, Dec 2011. © Irina Fuhrmann/Oxfa

Oxfam today revealed that just over a quarter of the taxes that could be raised each year from money currently hidden away in tax havens would be enough to lay the foundation for ending global hunger.

Press Release
Oxfam's "Big Heads", G20, Los Cabos, June 2012. Credit: Oxfam

The G20 leading economies have sidelined development and food security at their summit in Los Cabos.

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