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European austerity programs have dismantled the mechanisms that reduce inequality and enable equitable growth.

Millions of poor people will go without life-saving food and medicines as donor aid pledges to poor countries are breached.

‘Big Chocolate’ is booking huge profits while failing to pay prices that support a living income for cocoa farmers in Ghana, reveals new analysis by Oxfam today ahead of World Fair Trade Day (13 May). 

A staggering new poll has revealed that support for higher taxes on wealth is popular with dollar millionaires from across G20 countries. It comes as 260 millionaires and billionaires have signed a new letter demanding world leaders increase their taxes, to coincide with the World Economic Forum in Davos, Switzerland. The polling is part of the “Proud to Pay More” report, published alongside the letter, which profiles some of the world’s wealthiest people on why they support higher taxes on themselves.

Under this new proposal, companies’ profits and their ability to shift them offshore will barely be affected and consequently developing countries will only see a very small increase in their corporate tax revenues. 

In response to the outcome of COP28, Oxfam International’s Climate Change Policy Lead Nafkote Dabi said: “Everyone fighting against the global climate crisis has little to celebrate from this disappointing COP28. Its final outcome is grossly inadequate. Oil, coal and gas won again, but they had to struggle harder to do so and their era is nearing its end."   

COVID-19 has pushed millions into poverty in East Africa, and worsened inequality. However, building back during and after the pandemic offers East African governments a once-in-a-generation opportunity to do what their citizens want: make their economic systems fairer by increasing taxes on wealthy and large corporations, boost public spending, and improving workers’ rights.

Governments and aid agencies have to tackle the politics and power at the heart of the increasing effects of climate change, rising inequality and people’s vulnerability to disasters according to a new report published today by international agency Oxfam.

Oxfam presents new evidence that the gap between rich and poor is growing ever wider and is undermining poverty eradication. This report delves into the causes of the inequality crisis and looks at the concrete solutions that can overcome it.

Poor countries are being forced to cut back on their economic crisis-response spending too soon. Education and social protection budgets are particularly badly affected. Oxfam is calling on the IMF to take steps to reverse this trend.