The Hamburg G20 communique, annotated by Oxfam policy experts.
"The needs of the poorest were an afterthought. Despite the anger of many on the streets at the growing divide between the rich and poor, the G20 could only muster a tepid set of policies to tackle poverty and inequality," said Steve Price-Thomas, Oxfam’s director of advocacy and campaigns.
Plus, three other critical questions ahead of Friday’s G20 summit.
“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.”
This year’s G20 Summit will raise the stakes for the group to prove itself against growing doubts about its effectiveness – not least for people living in poverty, says Oxfam.
The G20 leaders’ summit has made welcome progress in tackling the refugee crisis while also taking tentative steps towards addressing the gap between rich and poor. However, the G20 has done little to build momentum toward an ambitious climate deal.
The gap between where companies pay tax and where they really do their business is huge, as shown by new research described in this briefing.
G20 finance ministers in Lima today endorsed international tax reforms for tackling tax dodging launched by the Organization for Economic Cooperation and Development (OECD). While the measures are a tax milestone, they poorly represent the critical needs of developing countries, Oxfam warned today.
More than 200 million people will be trapped unnecessarily in extreme poverty - despite world leaders’ pledge to end it - unless action to tackle economic inequality is accelerated.
Africa was cheated out of US$11 billion in 2010 through just one of the tricks used by multinational companies to reduce tax bills, according to new Oxfam report, ‘Africa: Rising for the few,’ released today.