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In response to the communiqué published following the Fourth G20 Finance Ministers and Central Bank Governors Meeting, Oxfam International’s Tax Policy Lead, Susana Ruiz, said: “The G20 Finance Ministers are advancing toward fairly taxing the ultra-rich worldwide. Far from a blip, today’s G20 Ministerial reflects an emergent shift in consensus from the world’s largest economies to reduce extreme inequality by ensuring the ultra-rich pay their fair share. While we need G20 leaders to ratify this commitment at the Rio Summit in November and lay out steps for its implementation, let’s make no mistake: finance leaders have hit a new historic milestone."

“Food, funds, inequality” issues will test G20 leaders’ ability to transform the global economy. The 2011 G20 Summit could be a watershed for global stability and prosperity if leaders rise above a narrow vision of self-interest and act decisively for the world’s poorest citizens.

Monday's UN summit on Refugees and Migrants in New York is likely to fall far short of what is needed to address the global displacement crisis or protect people on the move.

About Financial Transaction Tax (FTT) and innovative financing for development  

Europe is turning its back on poor countries just when they need help most. At a crucial time just ahead of the G20 Summit in London, the EU is empty-handed and in no fit state to lead the world on the two biggest issues we face today – the economic and climate crisis.

Experts from Oxfam will be present at the upcoming G20 Leaders’ Summit in Rio de Janeiro, Brazil, where they will be available for interviews about their key areas of expertise, including inequality, taxation, hunger, and climate justice. 

Tax collection in Latin America and the Caribbean is low in relation to its potential and does not reflect the huge social needs in the region. Public finances reflect an inequitable social and economic model, which perpetuates power concentration and discrimination, and are undermined by high rates of tax evasion and avoidance. Courageous reforms are urgently needed in order to achieve fiscal policies to help reduce entrenched inequalities in the region.Despite economic growth and the reduction of both poverty and inequality that Latin America and the Caribbean (LAC) has…

G7 finance ministers meeting in Canada this weekend must agree to a Financial Transaction Tax to leverage billions needed to help poor nations deal with the impact of the global economic crisis.

World Bank President Jim Yong Kim has yet again failed to profile his commitment to tackling climate change and inequality as central to his aim in eradicating poverty by 2030.

Responding to comments by Christine Lagarde, IMF Managing Director, endorsing moves towards a European Financial Transaction Tax, Oxfam spokesperson Sebastien Fourmy said: