Wealth increase of 10 men during pandemic could buy vaccines for all: Oxfam

‘The combined wealth of the world's 10 richest men rose by $540bn (£400bn) during the pandemic, according to Oxfam. The charity claims this amount would be enough to prevent the world from falling into poverty because of the virus, and pay for vaccines for all. The organisation is urging governments to consider taxes on the super-rich. Oxfam's report comes as global leaders gather virtually for the World Economic Forum's "Davos Dialogue" meeting.’

Read here (BBC, Jan 26, 2021)

The inequality virus: Bringing together a world torn apart by coronavirus through a fair, just and sustainable economy

‘The coronavirus pandemic has the potential to lead to an increase in inequality in almost every country at once, the first time this has happened since records began. The virus has exposed, fed off and increased existing inequalities of wealth, gender and race. Over two million people have died, and hundreds of millions of people are being forced into poverty while many of the richest – individuals and corporations – are thriving. Billionaire fortunes returned to their pre-pandemic highs in just nine months, while recovery for the world’s poorest people could take over a decade.

‘The crisis has exposed our collective frailty and the inability of our deeply unequal economy to work for all. Yet it has also shown us the vital importance of government action to protect our health and livelihoods. Transformative policies that seemed unthinkable before the crisis have suddenly been shown to be possible. There can be no return to where we were before. Instead, citizens and governments must act on the urgency to create a more equal and sustainable world.’ 

Download PDF here (Oxfam, Jan 25, 2021)

Rich nations have cornered half of future COVID-19 vaccine supply: Oxfam

‘A group of wealthy nations representing 13 per cent of the global population have already bought up more than half of the promised doses of future COVID-19 vaccines, according to a report by Oxfam on Wednesday (Sep 16).

‘The non-governmental organisation analysed deals struck by pharmaceuticals and vaccine producers for the five leading vaccine candidates currently in late-stage trials, based on data collected by the analytics company Airfinity.’

Read here (Channel News Asia, Sept 17, 2020)

‘Dignity not destitution: An ‘economic rescue plan for all’ to tackle the Coronavirus crisis and rebuild a more equal world’. A paper by Oxfam

Oxfam calls for US$2.5 trillion plan to tackle the pandemic and prevent global economic collapse in a paper:

‘New analysis shows the economic crisis caused by coronavirus could push over half a billion people into poverty unless urgent and dramatic action is taken... We can only beat this virus through coming together as one. Developing countries must act to protect their people, and demand action from rich nations to support them. Rich country governments must massively upscale their help – led by the G20. This paper lays out an Economic Rescue Plan For All that meets the scale of the crisis, mobilising at least $2.5 trillion dollars to tackle the pandemic and prevent global economic collapse. It prioritises helping people directly: giving cash grants to all who need them. An immediate suspension of the debt payments of poor countries, combined with a one-off economic stimulus by the IMF and an increase in aid and taxes, can pay for this.’

Download here (Oxfam, April 9, 2020)