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Oxfam is encouraged by World Bank President Dr. Jim Yong Kim’s rejection of trickle-down economics and his clear stance on the enormous challenge inequality poses across the world. 

The European Commission has shown yet again how EU governments grant unfair tax schemes to powerful multinationals, Oxfam said reacting to the opeing of a new investigation into a UK tax scheme that exempts multinational companies from an important anti-tax avoidance measure.

More than 200 million people will be trapped unnecessarily in extreme poverty - despite world leaders’ pledge to end it - unless action to tackle economic inequality is accelerated. 

Oxfam, together with civil society organizations, welcomes the World Bank’s International Finance Corporation (IFC) announcement that it will not resume its investments in K-12 private schools, following the release of an independent evaluation by the World Bank Independent Evaluation Group (IEG) on the IFC’s investments in this area.  

A declaration providing political support for the post-2015 education agenda, including goals to achieve universal pre-primary, primary and secondary education of good quality, has been endorsed by Education Ministers and officials from across the world.

Fast food company McDonald’s has been enjoying ‘double non-taxation’ in the United States and Luxembourg on the profits it makes in Europe, the European Commission said today. Although tax deals between the company and the Grand Duchy were not ruled illegal, this case illustrates once again how EU member states help big business avoid paying their fair share of tax.In response, Susana Ruíz, Oxfam’s tax policy lead, said:“Big business is getting fat on public money and it’s time governments took action instead of super-sizing the profits of huge companies.…

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.

Ministers must deliver on their climate finance promises and support a second wave of attack on corporate tax cheats if their Lima meeting is to succeed, said Oxfam today. 

In reponse to the G7 Summit outcomes today, Oxfam said President Macron put inequality at the top of the agenda, but G7 leaders failed to make meaningful commitments to solve the crisis they have helped create, said Oxfam at the end of the Summit today.

Over 50 leading financiers have expressed their support for a European Financial Transaction Tax (FTT) ahead of a meeting of Finance Ministers in Brussels next week. In an open letter to European leaders, the financiers argue the FTT will reduce financial instability and raise significant additional government revenue.