‘World’s richest 1% get 82% of the wealth’, says Oxfam

The gap between the super wealthy and also the rest on the globe widened final year as wealth continued to become owned by a little minority, Oxfam has claimed. Some 82% of money generated last year went towards the richest 1% in the worldwide population although the poorest half saw no boost at all, the charity mentioned.

Oxfam said its figures – which critics have queried – showed a failing system. It blamed tax evasion, firms’ influence on policy, erosion of workers’ rights, and expense cutting for the widening gap. Oxfam has produced related reports for the previous 5 years. In 2017 it calculated that the world’s eight richest men and women had as significantly wealth because the poorest half from the planet.

This year, it mentioned 42 men and women now had as a lot wealth because the poorest half, nevertheless it revised last year’s figure to 61. Oxfam mentioned the revision was due to enhanced information and stated the trend of “widening inequality” remained.

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