In response to the Forbes Rich List published today, which reveals there are now a record 1,826 billionaires in the world worth $7.05 trillion, Nick Bryer, Oxfam's Head of UK Policy, Programs and Campaigns said:
“This is yet more evidence that the very few at the top are coining it in. At the other end of the scale there are nearly a billion people who go to bed hungry every night. Such extreme inequality should concern us all, not only because it is a moral outrage, but because it is undermining growth and creating one of the most significant barriers to ending poverty.
“Economic growth does not inevitably trickle down to help those at the bottom. Money can be used to buy power and rig rules, regulations and policies, creating this huge void between the rich and poor and between those who can and cannot access opportunities.
“Unfair tax rules are a perfect example of this. A fairer global tax system, which clamps down on tax dodging by corporations and rich individuals, would help to close this gap and tackle the growing problem of inequality.”