Oxfam report 2015
Oxfam report 2015
Date: January 20, 2015
Poverty inequality oxfam international
Oxfam Intenational report on Inequality
Oxfam International was formed in 1995 by a group of independent non-governmental organizations with the objective to work together for greater impact on the international stage to reduce poverty and injustice. On January 19,2015 it published a report in which it found that ''The combined wealth of the richest 1 percent will overtake that of the other 99 percent of people next year unless the current trend of rising inequality is checked.''
The report further says that the richest 1 percent have seen their share of global wealth increase from 44 percent in 2009 to 48 percent in 2014 and at this rate will be more than 50 percent in 2016. Members of this global elite had an average wealth of $2.7 million per adult in 2014.Of the remaining 52 percent of global wealth, almost all (46 percent) is owned by the rest of the richest fifth of the world’s population. The other 80 percent share just 5.5 percent and had an average wealth of $3,851 per adult – that’s 1/700th of the average wealth of the 1 percent.
The Oxfam suggests following 7 measures to tackle povrety and inequality-
1- Clamp down on tax dodging by corporations and rich individuals.
2- Invest in universal, free public services such as health and education.
3-Share the tax burden fairly, shifting taxation from labour and consumption towards capital and wealth.
4-Introduce minimum wages and move towards a living wage for all workers.
5-Introduce equal pay legislation and promote economic policies to give women a fair deal.
6- Ensure adequate safety-nets for the poorest, including a minimum-income guarantee.
7-Agree a global goal to tackle inequality.