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Oxfam's call to governments ahead of Davos: Tax the rich

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By Mark Armstrong  with AP
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The World Economic Forum is taking place in Davos, Switzerland
The World Economic Forum is taking place in Davos, Switzerland   -   Copyright  EBU

Oxfam has added its voice to those calling for higher taxes on the super-rich to help tackle growing levels of world poverty.

The international charity reports that according to its own research, during the coronavirus pandemic a new billionaire was made every 30 hours.

The call came as members of the global elite gather in the Swiss alpine resort of Davos for the much-vaunted annual World Economic Forum.

"We see all these problems, these crises happening, multiple levels of crises, and it can seem overwhelming but there is a message of hope in the sense that there is money; it’s not well distributed," said Oxfam executive director Gabriela Bucher.

"There are measures that can reduce this inequality: taxation at low percentages. We're talking two per cent for millionaires going up to five per cent, and with that we can raise enough money to address this deep social problem."

Even some of the world's wealthiest individuals have invited governments to tax them more in an unlikely recent alliance with left-wing activists.