01/19/2015, 00.00
ASIA
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In 2016, 1% of the richest own more than the remaining 99% (Oxfam)

The gap between the world’s wealthy and the rest of the population is increasing. Between 2009 and 2013, the wealth of the richest 1% has increased from 44% to 48%. Rules governing international taxation need to be overhauled by taxing capital more and labor less; setting minimum wages and implementing a social safety net for the poorest.

London (AsiaNews / Agencies) - In 2016, the accumulated wealth of the world's richest 1% will exceed that owned by the remaining 99%. This is according to a report released by Oxfam ahead of the meeting in Davos (Switzerland), where politicians, businessmen and economists of the world will gather January 21 to 24.

The British NGO also shows that from 2009 to 2013, considered the crisis years, 1% of the richest increased its wealth from 44 to 48%; this is expected to reach 50% in 2015.

The study shows that "in 2014 the adult members of this international elite [this 1%] had on average 2.7 million US dollars, 20% of the richest owns 46% of the world's wealth, leaving the other 80 % to share just 5.5 % with an average wealth of 3,851US dollars per adult".

Oxfam director Winnie Byanyima notes "it is important that this year there is a world summit to rewrite the rules of international taxation". "The magnitude of inequalities - she says - is simply breathtaking ... The gap between the great fortunes and the rest of the population is expanding rapidly."

The NGO proposes a plan to combat inequality, to tackle tax evasion, improve public services, tax capital rather than labour, and introduce living minimum wages, among other measures, in a bid to ensure a more equitable distribution of wealth.

Winnie Byanyima will be present in Davos as co-chairman of the meeting. The rally will also be attended by Chinese Premier Li Keqiang and the US Secretary of State John Kerry.

 

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