Listen Download Podcast
  • RFI English News flash 04h00 - 04h10 GMT Mon-Fri
    News bulletin 07/31 04h00 GMT
  • Paris Live AM 04h10 - 04h30 GMT Mon-Fri
    Features and analysis 07/31 04h10 GMT
  • RFI English News flash 05h00 - 05h10 GMT Mon-Fri
    News bulletin 07/31 05h00 GMT
  • Paris Live AM 05h10 - 05h30 GMT Mon-Fri
    Features and analysis 07/31 05h10 GMT
  • RFI English News flash 06h00 - 06h10 GMT Mon-Fri
    News bulletin 07/31 06h00 GMT
  • Paris Live AM 06h10 - 06h30 GMT Mon-Fri
    Features and analysis 07/31 06h10 GMT
  • RFI English News flash 06h30 - 06h33 GMT Mon-Fri
    News bulletin 07/31 06h30 GMT
  • Paris Live AM 06h33 - 06h59 GMT Mon-Fri
    Features and analysis 07/31 06h33 GMT
  • RFI English News flash 07h00 - 07h10 GMT Mon-Fri
    News bulletin 07/31 07h00 GMT
  • RFI English News flash 07h30 - 07h33 GMT Mon-Fri
    News bulletin 07/31 07h30 GMT
  • RFI English News flash 14h00 - 14h03 GMT Sat-Sun
    News bulletin 07/30 14h00 GMT
  • RFI English News flash 14h00 - 14h06 GMT Mon-Fri
    News bulletin 07/29 14h00 GMT
  • Paris Live Weekend 14h03 - 14h30 GMT Sat-Sun
    Features and analysis 07/30 14h03 GMT
  • Paris Live PM 14h06 - 14h30 GMT Mon-Fri
    Features and analysis 07/29 14h06 GMT
  • RFI English News flash 14h30 - 14h33 GMT Mon-Fri
    News bulletin 07/30 14h30 GMT
  • Paris Live PM 14h33 - 14h59 GMT Mon-Fri
    Features and analysis 07/30 14h33 GMT
  • RFI English News flash 16h00 - 16h03 GMT Sat-Sun
    News bulletin 07/30 16h00 GMT
  • RFI English News flash 16h00 - 16h06 GMT Sat-Sun
    News bulletin 07/29 16h00 GMT
  • Paris Live Weekend 16h03 - 16h30 GMT Sat-Sun
    Features and analysis 07/30 16h03 GMT
  • RFI English News flash 16h30 - 16h33 GMT Mon-Fri
    News bulletin 07/30 16h30 GMT
  • Paris Live Weekend 16h33 - 17h00 GMT Sat-Sun
    Features and analysis 07/30 16h33 GMT
To take full advantage of multimedia content, you must have the Flash plugin installed in your browser. To connect, you need to enable cookies in your browser settings. For an optimal navigation, the RFI site is compatible with the following browsers: Internet Explorer 8 and above, Firefox 10 and +, Safari 3+, Chrome 17 and + etc.
Economy

'One per cent of the world’s richest individuals have more wealth than the other 99'

media Representatives from Oxfam will be attending Davos this week to press world leaders to make the changes outline in the report. REUTERS/Ruben Sprich

This astounding finding was published by Oxfam just days ahead of this year's World Economic Forum in Davos. The report also revealed that 62 of the world’s richest individuals, 53 of whom are men, control the same wealth as the world’s bottom 3.6 billion.

“We need to address the distribution of income if we’re really going to address the issue of extreme poverty,” Deborah Hardoon, one of the co-authors of the report, told RFI.

Unless there is a pro-poor growth within the next 15 years, The World Bank predicts that the battle against extreme poverty will continue to have failed with nearly half a billion people remaining on income levels below $1.90 a day.

Oxfam is calling on policymakers to hold the world’s wealthiest accountable for certain practices that only increase the gap. Among those practices are using off shore havens as a means to avoid paying taxes.

An analysis of 200 companies, including the world’s biggest and the World Economic Forum’s strategic partners, found that 9 out of 10 companies have at least one tax haven.

“You have this crazy situation where the wealthiest people pay a lower tax rate than a nurse does or a cleaner does, who are paying the taxes that they’re due to pay,” said Hardoon.

“These loopholes don’t need to exist. What we need to see is a crackdown on these provisions that allow individuals and companies to avoid paying their taxes.”

The report also highlighted the fact that women experience a greater burden of income inequality than men.

According to the IMF, countries with higher levels of income inequality also show gender inequality across health, education, labor market participation and representation.

Many historically female-dominated professions, like domestic care, continues to go unpaid entirely.

Even the very highest incomes tend to be exclusively held by males – 445 of the 500 world’s richest individuals are men.

“We still have an awful long way to go before we really achieve gender parity,” said Hardoon.

“All over the world we see that women bear the burden of domestic care duty and go unpaid for that extra contribution.”

Representatives from Oxfam will be attending Davos this week to press world leaders to make the changes outline in the report.
 

 
Sorry but the period of time connection to the operation is exceeded.