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Latest Luxleaks documents show how change is desperately needed to combat tax dodging within the European Union.

The European Commission today published a proposal setting out plans to increase transparency on tax issues within the European Union.In reaction to the publication, Catherine Olier, Oxfam’s EU policy advisor, said:“While the European Commission is at last aware of the need for corporate tax transparency, it is still not addressing the issue head on. This feeble proposal fails to confront tax dodging by big business, and does nothing to stop sweetheart tax deals, such as those exposed by the recent LuxLeaks scandal.”“By not including country by country…

The 50 biggest US companies, including global brands Pfizer, Goldman Sachs, GE, Chevron, Wal-Mart, and Apple, stashed $1.6 trillion offshore in 2015 –  $200 billion more than the previous year - according to a new report by Oxfam.  

The World Bank and the IMF must seize their early chance in what could be a watershed year to end extreme global poverty by putting the battle against inequality, climate change and tax dodging at the very top of its Spring Meetings’ agenda this week. 

Billionaire fortunes increased by 12 percent last year – or $2.5 billion a day - while the 3.8 billion people who make up the poorest half of humanity saw their wealth decline by 11 percent, reveals a new report from Oxfam today.

Oxfam congratulates António Guterres on his appointment to what is arguably one of most challenging jobs on the planet. Mr. Guterres brings a wealth of experience and leadership to the role to guide the UN in the years to come.  

'In terms of a plan to reduce extreme income inequality, we are left empty handed. There has been a lot of talk and a raw sketch of plan of action in the communique, but it’s just a drop in the bucket.”

Today, the President of the European Commission, Ursula von der Leyen, proposed the introduction of a cap on revenues of companies producing electricity with low costs and a solidarity contribution from fossil fuel companies. The revenues from these unexpected profits will be directed to people and businesses to help them adapt to the recent increase in energy prices as well as to invest in clean home-grown energy sources.

The G20 leading economies have sidelined development and food security at their summit in Los Cabos.

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.