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The upcoming EU tax haven blacklist has to include at least 35 countries, including notorious tax havens such as Switzerland and Bermuda, in order to be effective, Oxfam finds in a new report published today. The analysis also shows that at least 4 EU countries would be blacklisted if the EU were to apply its own criteria to member states.

West Africa is losing millions of dollars that could be spent tackling poverty and inequality because governments are bending the rules to favour the rich and powerful, said Oxfam today in the wake of #WestAfricaLeaks.#WestAfricaLeaks shows an elaborate collusion between some of the region’s most powerful politicians and business leaders. From Senegal and Nigeria to Mali and Ghana, high ranking public officials and businesses are using shell…

Oxfam is encouraged by World Bank President Dr. Jim Yong Kim’s rejection of trickle-down economics and his clear stance on the enormous challenge inequality poses across the world. 

It is shameful to see European banks again involved in a major global money laundering scandal. 

Governments tried to further water down an already weak legislative proposal, Oxfam said in response to the EU finance ministers’ failure to agree on new measures against corporate tax dodging.

In reponse to the G7 Summit outcomes today, Oxfam said President Macron put inequality at the top of the agenda, but G7 leaders failed to make meaningful commitments to solve the crisis they have helped create, said Oxfam at the end of the Summit today.

Across Africa, ambitions to achieve inclusive and sustainable development are being undermined by inadequate investment in the care economy. Women and girls are providing millions of hours of unpaid care and domestic work – a provision which props up the economy and underpins society, yet remains under-recognized, undervalued and under-invested in. 

EU governments are unwilling to tackle large-scale tax avoidance of multinational companies, Oxfam says in reaction to a new directive formally approved today.

As G7 leaders head to Biarritz, France, and President Macron promises to make the fight against inequality a priority at this year’s Summit, Oxfam says that the G7 are actively fueling inequality at home and across the globe.

The criteria adopted by EU Finance Ministers for screening countries over tax abuse will be of little to no use in ending the era of tax havens.