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Elise Ford, Head of Oxfam’s EU office, said:

A broad coalition of NGOs, political organizations and trade unions today (7 September), called on EU Finance Ministers to recognize the merits of an European-wide Financial Transaction Tax (FTT), particularly as austerity measures begin to be felt throughout the EU.

European leaders meeting today to discuss ways of boosting economic growth should press ahead with plans for a financial transaction tax (FTT), Oxfam said.

A leaked European Commission document dispels earlier warnings that the fin

“Food, funds, inequality” issues will test G20 leaders’ ability to transform the global economy. The 2011 G20 Summit could be a watershed for global stability and prosperity if leaders rise above a narrow vision of self-interest and act decisively for the world’s poorest citizens.

An Oxfam analysis of more than 7,500 EU-funded projects reveals a significant lack of transparency in reporting, casting doubt on the accountability of the EU’s aid. Based on the reported data, only a small portion of the EU’s agricultural development aid complies with the aim of targeting small-scale producers and women.

Responding to the G7 communiqué published today, Oxfam International’s Head of Inequality Policy Max Lawson, said: “Talking about taxing the super-rich for the first time in their 50-year history was the thin silver lining in a big black cloud of G7 failure for people living in poverty.”  

Commenting on the discussion today about innovative funding for development at the MDG Summit Leading Group on Innovative Finance, Oxfam spokesperson Veronica Hernandez said:

In most of sub-Saharan Africa, maize is a staple food crop. This paper explores some of the reasons why maize markets fail and argues that a major reason is because there is so little trust or cooperation between governments and private traders.

Speaking at the end of the Rio+20 UN Summit on Sustainable Development, Barbara Stocking, Chief Executive, Oxfam GB said: