Oxfam Says the 26 richest people in the world control £1.1trillion

Oxfam Says the 26 richest people in the world control £1.1trillion

The 3.8 billion people who make up the poorest half of the world saw their wealth decline by 11 per cent last year while billionaires’ fortunes rose 12 per cent – or $2.5 billion a day, an Oxfam report published today reveals.

Public Good or Private Wealth? describes how decades of progress in reducing global poverty has slowed and is being undermined by the growing gap between rich and poor. The report, published as political and business leaders gather in Davos for the World Economic Forum, finds that 26 people now own the same wealth as the poorest half of the world – down from 43 in 2017.

Many governments are exacerbating inequality by failing to invest enough in public services that are key to reducing it, the report says. Every day, it is estimated that around 10,000 people die for lack of healthcare. There are 262 million children who are not in school, often because their parents can’t afford the fees, uniforms or textbooks.

The report calls on governments to do more to fund high-quality, universal public services through tackling tax dodging and delivering fairer taxation, including on corporations and the richest individuals’ wealth, which are often under-taxed.

Source / More : Oxfam

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