62 people own same as half the world – EU needs to take action against tax havens

The 18 january, Oxfam launched  its report on inequality: An economy for the 1%.

The 62 richest people own as much as the poorest half of the world’s population. The richest 1% now have more wealth than the rest of the world combined.

In this report, Oxfam is highlighting tax havens and the industry of tax avoidance as a powerful example of an economic system that is rigged to work in the interests of the powerful.

Oxfam is therefore calling on all world leaders to agree a global approach to end the era of tax havens.

In addition to the figures highlighting how inequality continues to grow, Oxfam published the following data on tax havens:

Oxfam analysed 200 companies, including the world’s biggest and the World Economic Forum’s strategic partners, and has found that 9 out of 10 companies analysed have a presence in at least one tax haven. In 2014, corporate investment in these tax havens was almost four times bigger than it was in 2001.

Find out more here:

Our EU press release.

The report An economy for the 1%.

Our campaign before Davos: Even it Up.