'Governments must step in and ensure economic growth works for everyone', says Oxfam

'Governments must step in and ensure economic growth works for everyone', says Oxfam

Oxfam claim 8 people hold the same amount of wealth as the poorest half of humanity

Monday, January 16, 2017

Governments must ensure that economic growth works for everybody and our economies must be run in a different way, says Oxfam.

The charity has issued a report claiming that just eight men have the same amount of wealth as 3.6 billion people, who make up the poorest half of humanity. It calls for a change in the way the economy is managed. 

Katy Wright, head of global external affairs at Oxfam, told Sam Delaney: “Governments have got to come in and make sure growth works for everybody.

“We will not end poverty unless we start to run our economies differently, and that is the only reason we’re putting out this report.

“The relationship between the two [rich and poor] shouldn’t be forgotten, and that’s what we’re increasingly worried about."

However Nerissa Chesterfield, communications director at the Institute of Economic Affairs said: “The one thing again that’s not being recognised or acknowledged is the fact that some of these billionaires…they also pay the highest and largest percentage of tax.

“It’s the preoccupation with the rich rather than focusing on the poor," she added.  “I think we have to look at Oxfam’s statistics and see where they’ve got these claims from."

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