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What should have been a watershed G20 summit for shared global prosperity fell short of its potential – but some of the strongest ideas, especially the Robin Hood Tax, did overcome the opposition of some countries.

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.

Oxfam today revealed that just over a quarter of the taxes that could be raised each year from money currently hidden away in tax havens would be enough to lay the foundation for ending global hunger.

At the close of the World Bank and International Monetary Fund’s Spring Meetings in Washington, Chris Stalker, Acting Head of Oxfam International’s Washington office, commented on the week's developments.

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.

Tomorrow, Tuesday 16 February, European Union finance ministers will review the EU tax havens list, officially known as the EU list of non-cooperative jurisdictions for tax purposes. This is an assessment of non-EU countries according to the current blacklist criteria. This process started in 2017 and takes place twice a year. Currently, 12 countries are blacklisted and 10 are ‘grey-listed’.  

Today, the European Commission published an ‘Action Plan For Fair And Simple Taxation Supporting The Recovery Strategy’, including a communication on ‘Tax Good Governance in the EU and beyond’.

Following the Paradise Papers revelations, the European Parliament decided today to establish a new special committee on tax fraud, tax evasion, money laundering, tax avoidance and aggressive tax planning. 

International development agency Oxfam and the European Network on Debt and Development (Eurodad) welcome the European Commi