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Oxfam believes that reducing inequality is fundamental to fair and sustainable development.

In response to Jeff Bezos’ space flight scheduled for Tuesday, Deepak Xavier, Oxfam International's Global Head of Inequality Campaign, said: "We’ve now reached stratospheric inequality. Billionaires burning into space, away from a world of pandemic, climate change and starvation. 11 people are likely now dying of hunger each minute while Bezos prepares for an 11-minute personal space flight. This is human folly, not human achievement."

A group of economists, activists, politicians and millionaires from seven countries across Europe today registered a ‘European Citizens’ Initiative’ (ECI) calling on the European Union (EU) to adopt a permanent annual wealth tax on Europe’s biggest fortunes to raise revenue to reduce poverty and inequality both at home and in poorer countries, and to tackle the climate crisis.

722 of the world’s biggest corporations together raked in over $1 trillion in windfall profits each year for the past two years amid soaring prices and interest rates, while billions of people are having to cut back or go hungry. 

Less than eight cents in every dollar raised in tax revenue in G20 countries now comes from taxes on wealth, reveals new analysis by Oxfam today ahead of the first meeting of G20 Finance Ministers and Central Bank Governors in Sao Paulo, Brazil. 

Commenting at the close of the EU council meeting where leaders agreed on a new EU 2030 climate target and discussed the EU’s response to the Covid-19 pandemic, Evelien van Roemburg, head of Oxfam’s EU advocacy office said: "The new, more ambitious, EU 2030 target still falls short of what is needed and what is fair. The EU must take urgent practical steps to deliver above and beyond this target."

Rich and poor countries alike have exacerbated an explosion of economic inequality since the outbreak of the pandemic from 2020, reveals new research by Oxfam and Development Finance International (DFI). 

G20 world leaders have failed to take definitive action to tackle poverty, hunger, climate, debt and deprivation that is crippling millions of people around the world, says Oxfam.

The World Bank today announced that 52 donor countries have committed to an $82 billion package for the 19th replenishment of the International Development Association (IDA19), the Bank’s fund for the world’s poorest countries.

Increasing aid and making it more effective can help poor people become more politically active in decisions that affect them, while also supporting governments to become more accountable and plot their own path to achieving the Sustainable Development Goals.