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G7 "favors inequality", says Oxfam

2019-08-22T03:49:53.676Z

"Income inequality has worsened in all G7 countries since the 1980s," says the NGO, while the summit's official title this year is "fighting inequality." & nbsp;


"Income inequality has worsened in all G7 countries since the 1980s," says the NGO, while the summit's official title this year is "fighting inequality."

Increasing Income Gaps and Poverty, Lower Taxes for the Rich: Contrary to their stated intentions, G7 leaders "actively promote these inequities in their countries and around the world," says Oxfam on Thursday. days before the opening of the summit of Biarritz.

An official summit against "inequalities"

"Income inequality has worsened in all G7 countries since the 1980s. The poorest 20 per cent of the population in the G7 countries receives, on average, only 5 per cent of total wages, while the 20 "The richest get about 45%," according to a document from the NGO. The official title of the G7 summit is this year's "fight against inequalities".

Despite this and a statement supporting this need already made by the G7 in 2017 in Bari, Italy, this grouping of the most advanced economies on the planet "fails to take conclusive steps to bridge the gap between rich and poor," Regrets Oxfam: "Stagnating and declining wages mean that the G7 countries, who may be trapped in poverty, have only increased their share in the last ten years, to reach 9% in Germany, more than 7% in France, 12% in Italy and almost 9% in the United Kingdom ", details the NGO.

"Priority to shareholders", according to Oxfam

Oxfam denounces "a stranglehold on public policies" by wealthy individuals and companies, as well as "the priority to shareholders" in the context of a model of neoliberal capitalism "that the G7 countries have exported around the world" . The consequences include "neglected social spending" and public services "subject to budget cuts, reforms and privatization under the pretext of austerity and debt consolidation".

To bridge the gap between rich and poor, Oxfam calls for "concrete plans with a clear cut-off date", "the introduction of an effective minimum tax rate in all countries, set at an ambitious level", or investments "in public and free universal services". The NGO also wants "concrete measures for climate justice" with "much higher emission reductions". Finally, it stresses the need to "tackle the fight against gender and economic inequalities head on" and to "integrate the fight against inequalities into development aid strategies".

Source: europe1

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