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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.

Elise Ford, Head of Oxfam’s EU office, said:

Oxfam condemns today’s decision by EU Finance Ministers to delay talks on a European Financial Transaction tax (FTT) until December. 

European Tax Commissioner Algirdas Semeta today announced that all legal conditions are now met for a pioneer g

Governments are letting big business off the hook when it comes to paying the billions they owe in tax, Oxfam said in reaction to the latest decision of the European Commission on Luxembourg's tax deal with online retailer Amazon.

European leaders meeting today to discuss ways of boosting economic growth should press ahead with plans for a financial transaction tax (FTT), Oxfam said.

Fast food company McDonald’s has been enjoying ‘double non-taxation’ in the United States and Luxembourg on the profits it makes in Europe, the European Commission said today. Although tax deals between the company and the Grand Duchy were not ruled illegal, this case illustrates once again how EU member states help big business avoid paying their fair share of tax.In response, Susana Ruíz, Oxfam’s tax policy lead, said:“Big business is getting fat on public money and it’s time governments took action instead of super-sizing the profits of huge companies.…

Speaking at a press conference at the Rio+20 Summit, Barbara Stocking, Chief Executive, Oxfam GB said:

The Asia-Pacific region was a model for ‘growing with equity’ in the 1970s and 1980s. However an economic take-off and market-oriented reforms in recent years has been accompanied by wealth gaps between rich and poor. This report suggests a course for the region’s economies to be defined by inclusive growth and shared prosperity.

Over 50 leading financiers have expressed their support for a European Financial Transaction Tax (FTT) ahead of a meeting of Finance Ministers in Brussels next week. In an open letter to European leaders, the financiers argue the FTT will reduce financial instability and raise significant additional government revenue.