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G20 finance ministers meeting in London this weekend should provide a $280 billion bailout for millions of poor people struggling to survive the economic crisis. We provide three easy ways the G20 could deliver this up.

The G20 leading economies have sidelined development and food security at their summit in Los Cabos.

Oxfam spokesperson Luc Lampriere said:

Oxfam spokesperson Luc Lamprière said: Financial transaction tax:

Billionaire fortunes increased by 12 percent last year – or $2.5 billion a day - while the 3.8 billion people who make up the poorest half of humanity saw their wealth decline by 11 percent, reveals a new report from Oxfam today.

The G20 missed a golden opportunity to tackle global poverty when it could only agree to disagree over how to make banks repay the cost of the economic crisis, said international agency Oxfam.

Poverty and inequality in Europe have reached shocking levels, according to a new Oxfam report.

Oxfam is encouraged by World Bank President Dr. Jim Yong Kim’s rejection of trickle-down economics and his clear stance on the enormous challenge inequality poses across the world. 

“The G20 reiterated previous commitments to reduce inequality, boost the participation of women in work and phase out inefficient fossil fuel subsidies. The G20 said they would draw up a proper response to the refugee and migrant challenge next year, which is too late. The world needs urgent action now, not more words.”

Runaway inequality has created a world where 62 people own as much wealth as the poorest half of the world’s population – a figure that has fallen from 388 just five years ago, according to an Oxfam report published today ahead of the annual gathering of the world’s financial and political elites in Davos.