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Wealthy elites have co-opted political power to rig the rules of the economic game, undermining democracy and creating a world where the 85 richest people own the wealth of half of the world’s population, worldwide development organization Oxfam warns in a report published today. 

Ending extreme inequality to end poverty has no lack of policy options: from corporate tax reform to investment in health and education, and from raising the minimum wage to ending gender discrimination. This discussion paper aims to put one of these solutions on the agenda: the billionaire tax.

G20 Leaders meeting in Brisbane, Australia this weekend (15 and 16 November) are being urged to tackle rising inequality head-on or risk leaving millions of people trapped in poverty, as new figures reveal the wealth disparity in a number of G20 countries.

The richest one percent of the world’s population are responsible for more than twice as much carbon pollution as the 3.1 billion people who made up the poorest half of humanity during a critical 25-year period of unprecedented emissions growth.

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’.  

Overcoming inequality and slowing global warming are imperative for achieving a world free from poverty and suffering, says an Oxfam report released today.

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’. 

Oxfam’s Nicolas Mombrial said:

When the G20 meets in Seoul in November 2010, it has a big choice to make.

The G7 have made a stuttering start on climate but have largely neglected the plight of people living in poverty, said Oxfam at the close of the annual leaders’ summit in Germany today.