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Responding to President José Ma

Millions of poor people will go without life-saving food and medicines as donor aid pledges to poor countries are breached.

Oxfam welcomed today’s vote by European Parliamentarians in support of a strong European Financial Transaction Tax (FTT) covering all instruments (shares, bonds and derivatives), as put forward by

Aid from rich nations is likely to fall by at least $9.5 billion by the end of 2012 – the biggest drop in aid for 15 years, according to new calculations by international agency Oxfam ahead of this week’s G20 Summit (Nov 3-4).

European Commission President José Manuel Barroso promised today he would announce an extra €1 billion for the Millennium Development Goals (MDGs) at a major UN summit in New York later this month.

Oxfam spokesperson Luc Lamprière said: Financial transaction tax:

The World Bank and International Monetary Fund need to ditch the ‘trickle down’ economics of the past and lead the fight against inequality if they are serious about the new target to end extreme poverty by 2030.

European Commission President Jose Manuel Barroso today threw his full support behind an EU Financial Transaction Tax (FTT) arguing that banks must make a '”contribution” back to society af

Oxfam spokesperson Luc Lampriere said:

The European Parliament today adopted a report advocating the EU press ahead with the introduction of a Financial Transaction Tax (FTT) on a unilateral basis to raise money for public goods.