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The slight decrease in development aid spending in 2017 is bad news for the fight to end poverty and reduce inequalities, said Oxfam today in response to the publication of new aid figures by the Organisation for Economic Cooperation and Development (OECD).

Oxfam welcomes the EU increasing its aid for education, public health and gender equality in developing countries in its budget for 2019. However, it still falls short of allocating 20 percent of the aid budget to these vital areas.

Oxfam strongly welcomes today’s leaked documents on Luxembourg’s tax haven operations revealed by the International Consortium of Investigative Journalists (ICIJ), showing that Luxembourg granted favorable tax treatment to many multinational corporations in order for them to dodge taxes by routing their profits through the country.

With its new long-term budget, the EU missed a chance to put itself at the forefront of a fair and green recovery from the coronavirus pandemic, Oxfam said today.

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.

Cutting development aid costs lives, and it will exacerbate poverty, inequality and instability across the globe, said Oxfam today in response to the publication of new aid figures by the Organisation for Economic Cooperation and Development (OECD).

The combined wealth of the richest 1 percent will overtake that of the other 99 percent of people next year unless the current trend of rising inequality is checked, Oxfam warned today ahead of the annual World Economic Forum meeting in Davos.

Today’s World Wealth Report from Capgemini shows that times have never been better for the world’s wealthiest - since 2009 more than 4.5 million new millionaires have been created, rising to a total of 15.4 million millionaires across the world last year. Yet while the wealthy prosper, 702 million people living in extreme poverty are being left behind.

Unresolved rigged tax rules and privatized development are the major drawbacks of the UN Financing for Development Conference outcome, says Oxfam.

The 1,000 richest people on the planet recouped their COVID-19 losses within just nine months, but it could take more than a decade for the world’s poorest to recover from the economic impacts of the pandemic, reveals a new Oxfam report today. "The Inequality Virus" is being published on the opening day of the World Economic Forum’s ‘Davos Agenda’.