‘Time to Care’ highlights global inequality with the world’s 2,153 billionaires owning more wealth than the 4.6 billion people who make up 60 per cent of the planet’s population. Ireland has one of the highest levels of wealth inequality in the EU, according to Oxfam.
Last year the 3.8 billion people who make up the poorest half of the world saw their wealth decline by 11 per cent, while billionaires’ fortunes rose by a similar amount (12 per cent).
“We need to tackle aggressive tax planning, to implement strong controlled foreign company rules to prevent profit-shifting and improve transparency by forcing multinational corporations to make public where they make profits and pay tax” – Oxfam Ireland.
“The severity of the situation is continuously increasing as is the number of people affected”: Cardinal Berhaneyesus D. Souraphiel, Archbishop of Addis Ababa.