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NZ needs to get tough in tax avoidance battle - Oxfam

23 Janvier 2018

Oxfam India said that this amount was equivalent to the union budget 2017-18. A woman named Anju in Bangladesh, who sews clothes 12 hours a day for export, makes just over $900 a year.

Monday's report arrived in the face of the annual World Economic Forum (WEF), in Davos, Switzerland, which is scheduled to begin on Tuesday.

The report reveals the biggest increase in the number of billionaires in history over the past year, with 2,043 people now able to claim the title.

Raising wages of garment workers in poor countries wouldn't necessarily be a debilitating cost, Oxfam found, estimating that it would cost $2.2 billion per year to give 2.5 million Vietnamese garment workers a living wage.

Limiting returns to shareholders and top executives.

Billionaires' combined wealth grew by $762 billion in the past year.

The authors also reported that global wealth was increasingly becoming skewed towards people who were already rich.

Oxfam India CEO Nisha Agrawal said it is alarming that the benefits of economic growth in India continue to concentrate in fewer hands.

He would also be discussing how to make trade work for developing countries and how decreasing home ownership rates were markers of increasing inequality globally.

While there was no silver bullet to fix the divide, the Government's tax working group was a positive step in the right direction, she said. Whether at home or overseas, women workers often find themselves at the back of the line in the economy.

They also noted that women workers were always at the bottom of the chain earning less than men.

There are now 2,043 billionaires worldwide - 90 percent of which are men - the report, based on data from Credit Suisse's Global Wealth Databook for 2017, said. In India, there are only four women billionaires and three of them inherited family wealth.

The forum is scheduled to begin on Tuesday. In India, it is believed that the ratio of top pay to ordinary workers' salary is 63 and it should be 14.

More "labour-intensive" industries need to be nurtured as well such that more jobs are created. "I'm profoundly grateful that people like Jeff Bezos chooses to spend some of his 10 thousand million dollars so I can read my local paper in Washington, and I'm profoundly grateful that Bill Gates chooses to spend some of his wealth to address the health systems of countries in Africa".

India is no stranger to income inequality, but the gap is widening further.

The charity's executive director, Rachel le Mesurier, said the level of inequality in the past two years had remained the same.

That included: requiring multi-nationals to pay a living wage and pay fair tax, and through the New Zealand Government collaborating with other countries.

"Eighty two percent of the new wealth created has gone to [the] top 1 percent, while 0 percent has gone to the world's poorest 50 percent", said the report.

"Dangerous, poorly paid work for the many is supporting extreme wealth for the few", and "Women are in the worst work, and nearly all the super-rich are men", the report said.

NZ needs to get tough in tax avoidance battle - Oxfam