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Global wealth is increasingly concentrated in the hands of a small wealthy elite. This briefing explains Oxfam’s methodology and data sources and updates key inequality statistics.

Every year, the Somali diaspora sends home approximately $1.3bn. But this system of remittances to Somalia is under threat, particularly in the US and the UK.

Speaking at the end of the Rio+20 UN Summit on Sustainable Development, Barbara Stocking, Chief Executive, Oxfam GB said:

Today EU Finance Ministers, meeting in Luxembourg, agreed to drop the idea of an EU-wide European Financial Transaction Tax (FTT).

President Trump’s decision to un-sign the Arms Trade Treaty is a clear message to civilians caught in the crossfire: we don’t care.

Oxfam International Executive Director Winnie Byanyima appeared before the UK Parliament’s International Development Committee, with Oxfam GB’s Executive Director Mark Goldring and Chair of Trustees Caroline Thomson. "I have two priorities today: first, to make sure we never make the same mistakes again. Second, that our work of saving lives around the world goes on," said Byanyima.

The Control Arms alliance expressed some satisfaction at progress made at the preliminary Arms Trade Treaty negotiations but urged governments to maximize time before the next meeting in 2011 to develop a draft Treaty further.

G20 leaders must take four concrete steps during the next few months to demonstrate their promise of a new world economic order will move beyond rhetoric to reality, Oxfam said today.

In response to the communiqué published following today’s meeting of G7 Finance Ministers and Central Bank Governors, Oxfam International’s Tax Policy Lead, Susana Ruiz, said: “That conversations about taxing the super-rich are happening at the G7 and G20 is historic. A majority of people, across party lines and across countries, support proposals to fairly tax the rich. 

The international agency said the US and others are putting the interests of the pharmaceutical industry above the lives of people around the globe. Oxfam is calling on the UN Secretary General and world leaders to make delivering affordable medicines a priority in 2018.