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Rulings by the General Court of the European Union today are a wake-up call for the EU to stop the destructive race to the bottom on taxation and reform the global architecture to create a fairer and more equitable system, says Oxfam.

Economic inequality is based on a flawed and sexist economic system that values the wealth of the privileged few, mostly men, more than the billions of hours of the most essential work – the unpaid and underpaid care work done primarily by women and girls around the world. This has to change.

The EU has whitewashed two of the world’s most harmful tax havens in today's review of the its tax haven list, says Oxfam.

Runaway inequality has created a world where 62 people own as much wealth as the poorest half of the world’s population combined, according to an Oxfam report published today ahead of the annual gathering of the world’s financial and political elites in Davos.

The 1,000 richest people on the planet recouped their COVID-19 losses within just nine months, but it could take more than a decade for the world’s poorest to recover from the economic impacts of the pandemic, reveals a new Oxfam report today. "The Inequality Virus" is being published on the opening day of the World Economic Forum’s ‘Davos Agenda’.  

For every new billionaire created during the pandemic — one every 30 hours — nearly a million people could be pushed into extreme poverty in 2022 at nearly the same rate, reveals a new Oxfam brief today. “Profiting from Pain” is published as the World Economic Forum — the exclusive get-together of the global elite in Davos — takes place for the first time face-to-face since COVID-19, a period during which billionaires have enjoyed a huge boost to their fortunes. 

Today’s World Wealth Report from Capgemini shows that times have never been better for the world’s wealthiest - since 2009 more than 4.5 million new millionaires have been created, rising to a total of 15.4 million millionaires across the world last year. Yet while the wealthy prosper, 702 million people living in extreme poverty are being left behind.

A coalition of NGOs has welcomed the European Parliament's vote to increase humanitarian and development aid in the EU budget 2018, but call on the EU to ensure aid money really goes to those who need it most.

The richest 1% in Latin America and the Caribbean owns 41% of the region’s total wealth and if this trend continues, in only 8 years’ time the progress that has been achieved there in reducing poverty could drastically reverse, warns Oxfam today. On average, the annual income of Latin American billionaires is almost 5,000 times greater than that of the region’s poorest people.

The World Bank continues to steadily increase support for privatized education in lower-income countries despite mounting evidence that this approach is freezing out poorer children ―especially girls― and doesn’t mprove education quality. Oxfam’s new report "False Promises" says the Bank should immediately stop promoting Public Private Partnerships (PPPs) that expand private education.