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The Credit Suisse report today shows that the number of millionaires is rising despite slowed economic Inequality is growing faster than we had thought – Oxfam predicted the richest one percent would own more than the rest of us by 2016. The fact that it has happened this year underlines the urgency of the problem.

The Credit Suisse Global Wealth Report shows once again that economic inequality remains at shockingly high levels.  The richest 1 percent now has as much wealth as the rest of the world combined.

Within hours of Oxfam International’s Executive Director Winnie Byanyima declaring at the UNGA that the glory days for tax havens are over, the International Consortium of Investigative Journalists has released a damning exposé pointing the finger at the Bahamas for tax abuse. 

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.  

The annual Forbes rich list released today highlighted a slight downturn in fortunes of the rich elite but huge global inequalities remain.

A 5-point plan to stop big corporations cheating poor countries out of billions of dollars in tax revenue, was published by Oxfam today in the wake of the Mauritius Leaks.

Research published by the International Consortium of Investigative Journalists today shows that multinational corporations are using the tax haven of Mauritius to avoid paying millions of dollars of tax across Africa.

Oxfam today gave a cautious welcome to the OECD's plans to open up its tax reform process to developing countries but said more fundamental global tax reforms, beyond BEPS, are still needed to stop corporate tax scandals. 

More than 300 leading economists from 30 countries have today written to world leaders warning that there is no economic justification for allowing tax havens to continue, and urging them to bring an end to offshore financial secrecy. The letter comes ahead of the UK Government’s summit on offshore corruption in London on Thursday, which politicians from 40 countries as well as World Bank and IMF representatives are expected to attend.

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.