Tax Justice UK
  • Home
  • Projects
    • Taxing Wealth
    • Tax and public opinion
    • Tax and the climate crisis
    • Ending tax dodging
  • About
    • Our approach
    • People
    • Funders
    • Sign up
    • Jobs
  • Blog
  • Donate

Wealth of the super rich balloons by £21 trillion

19/1/2023

 
Picture
The super rich just keep getting richer. And calls for wealth taxes are growing louder.

Since the start of the Covid pandemic, the world’s richest 1% have increased their wealth by a staggering £21 trillion – enough to lift 2 billion people out of poverty. That’s the shocking finding of a new report from Oxfam.

The report showed that the UK’s richest 1% are now worth £2.8 trillion, making them wealthier than two thirds of the UK population combined, as the Mail reported.

Rise in extreme poverty

Not only are the rich getting richer, but the poor are getting poorer.

Oxfam said the rise in extreme wealth was being accompanied by a rise in extreme poverty globally for the first time in a quarter of a century. 

The charity is calling for the introduction of global wealth taxes on the super rich to reverse this rise in extreme inequality. And they are getting some important backers.

In October we set out five wealth policies that could raise £37 billion a year in the UK.

Big backers for wealth taxes

Tech billionaire Bill Gates backed the Oxfam report and said last week he supported the introduction of greater taxes on wealth.

While 200 millionaires from around the world have demanded leaders gathering at Davos this week consider wealth taxes. The Guardian newspaper also came out in favour in an editorial this week.

Bussinessman Ian Gregg, former director of highstreet baker Greggs, also said he supported our call for wealth taxes in a video in the UK this week.

Pressure is growing on governments around the world to take action on soaring wealth inequality. Public support for wealth taxes is spreading.


Comments are closed.

    Posts

    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    March 2019
    January 2019
    December 2018
    November 2018
    October 2018
    June 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    August 2017
    June 2017
    May 2017

    Categories

    All

    RSS Feed

Tax Justice UK is a Company Limited by Guarantee in England & Wales (no. 10761736)
Registered Address: C/O Godfrey Wilson, ​Mariner House, 62 Prince St, Bristol BS1 4QD

Tax Justice UK is a partner of (but independent from) the Tax Justice Network

Privacy policy
Terms and conditions for using this website
Equality and Diversity Statement

If you have concerns about Tax Justice UK, you can make a complaint using this email address complaints@taxjustice.uk.

This website is published under the Creative Commons Attribution Licence
​Tax Justice UK campaigns for a better tax system to benefit everyone in the UK.
Media enquiries:  +44 (0)7413 729 505 (24hrs) 
Phone: +44 (0)20 3637 9137
​Email: mail AT taxjustice.uk
Picture
  • Home
  • Projects
    • Taxing Wealth
    • Tax and public opinion
    • Tax and the climate crisis
    • Ending tax dodging
  • About
    • Our approach
    • People
    • Funders
    • Sign up
    • Jobs
  • Blog
  • Donate