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The combined wealth of Nigeria’s five richest men - $29.9 billion - could end extreme poverty in that country according to a new report published by Oxfam today.  

EU finance ministers still cannot agree on decisive elements of a European Financial Transaction Tax - a missed chance for a strong signal to the climate summit in Paris.

Billionaire fortunes have risen six times faster than the wages of ordinary workers since 2010. Our failing economies are enriching a wealth minority while millions of ordinary workers are struggling to survive on poverty pay.

Today’s report from UBS and PwC revealed that the global billionaires club gained 50 more members in 2015 - at a time when 767 million people are living in extreme poverty. This huge gap between rich and poor is bad news for economic growth, the fight against poverty, social stability and democracy.  

In a puzzling move, inequality was not on the agenda at the International Monetary Fund’s Press Briefing in the Peruvian capital today, while World Bank President Jim Kim said TPP could boost growth.

In response to this week’s UN General Assembly Resolution that automatically mandates the UN General Assembly to meet within 10 days in the wake of any UN Security Council veto, Oxfam’s Head of the UN New York Office, Brenda Mofya said,

The situation facing working women, their changing patterns of work and the hardships and disadvantages they face have a profound potential to reshape the world we live in. This report seeks to explore the challenges and opportunities facing Europe’s working women, particularly those in precarious and low-paid work.

All charges against Antoine Deltour, the #LuxLeaks whistleblower who exposed secret deals that enabled multinational companies to avoid paying billions of dollars in tax, should be dropped, said Oxfam today. The trial of Antoine Deltour on charges of theft, violation of professional secrecy, violation of trade secrets and illegally accessing a database, is scheduled to begin on Monday 26 April.  Max Lawson, Oxfam’s Inequality Policy Lead said:  “Whistleblowers who expose tax dodging should be celebrated and protected, not prosecuted.…

Renewed demands by the G77 for a UN-led body to stamp out tax havens were lauded by Oxfam today.  G77 Ministers, who met on the side-lines of the UN General Assembly in New York, re-launched their proposal for a UN-led tax body, which was blocked at a UN meeting to discuss finance for development in Addis Ababa last year.

G20 Finance Ministers are expected to give the green light to a new round of negotiations on international tax reforms at a meeting in Fukuoka, Japan on 8 - 9 June 2019.