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Today, Oxfam publishes “Takers Not Makers” as business elites gather in the Swiss resort town of Davos and, billionaire Donald Trump backed by the world’s richest man, Elon Musk, is inaugurated as President of the United States. The report shows that globally, billionaire wealth grew by $2 trillion in 2024 alone, at a rate three times faster than the previous year.

In reaction to the European Parliament's plenary vote on the Financial Transaction Tax, Nicolas Mombrial, Oxfam’s EU Policy Adviser said:

In Mali, French aid aims to build the technical capacity of Malian administrations to collect tax by fighting against fraud and tax evasion. However, collecting more domestic resources alone will not be sufficient to reduce poverty. France must support watch-dog organizations to ensure greater transparency and accountability on the use of these resources for the benefit of the poorest.

 Its findings should strengthen calls to tackle lax trade regulation, inconsistent tax policy and enforcement, collusion, and corporate greed.

Extreme inequality is a threat to democracy, warns Oxfam’s global CEO Winnie Byanyima, at today’s closing session of the IMF - Mozambique government’s Africa Rising conference.

Responding to the publication of the G20 Leaders’ communiqué, Oxfam Brazil’s Executive Director Viviana Santiago said: “We applaud Brazil for using their G20 Presidency to respond to people’s demands worldwide to tackle extreme inequality, hunger and climate breakdown, and particularly for rallying action on taxing the super-rich. Brazil has lit a path toward a more just and resilient world, challenging others to meet them at this critical juncture.” 

While the G20 have put their first nail in the coffin of corporate tax dodging, they squandered this chance to make progress towards a political solution to the Syria crisis, and have failed entirely to confront the growing problem of income inequality.

The petroleum sector offers governments huge potential revenues that could be invested in poverty alleviation and inequality reduction, but those revenues must first be collected. Oxfam proposes recommendations to address these challenges and ensure that governments collect the taxes owed for the exploitation of their finite, nonrenewable petroleum resources.

Latin America and the Caribbean (LAC) is still the most unequal region in the world, despite economic growth and the reduction of both poverty and inequality over the last decade.