The wealthiest 1% will soon own more than the rest of the world's population,
according to a study by charity group Oxfam.
The charity's research shows
that the share of the world's wealth owned by the richest 1% increased from 44%
in 2009 to 48% last year.
On current trends, Oxfam says it expects the
wealthiest 1% to own more than 50% of the world's wealth by 2016.
The research coincides with the start of the
World Economic Forum in Davos. The annual gathering attracts top political and
business leaders from around the world, and Oxfam's executive director Winnie
Byanyima, who will co-chair the Davos event, said she would use the charity's
high-profile role at the gathering to demand urgent action to narrow the gap
between rich and poor.
In a statement ahead
of the gathering, Ms Byanyima said the scale of global inequality was
"simply staggering". "It is time our leaders took on the
powerful vested interests that stand in the way of a fairer and more prosperous
world.
"Business as usual for the elite isn't a
cost free option - failure to tackle inequality will set the fight against
poverty back decades. The poor are hurt twice by rising inequality - they get a
smaller share of the economic pie and because extreme inequality hurts growth,
there is less pie to be shared around," she added.
Rich
getting richer:
The
charity is calling on governments to adopt a seven point plan to tackle
inequality, including a clampdown on tax evasion by companies and the move
towards a living wage for all workers.
Oxfam made headlines at Davos last year with
the revelation that the 85 richest people on the planet have the same wealth as
the poorest 50% (3.5 billion people).
It said that that comparison had now become
even more stark, with the 80 richest people having the same wealth as the
poorest 50%.
The charity said the research, published on
Monday, showed that 52% of global wealth not owned by the richest 1% is owned
by those in the richest 20%.
The remaining population accounts for just
5.5% of global wealth and their average wealth was $3,851 (£2,544) per adult in
2014, Oxfam found.
That compares to an average wealth of $2.7m
per adult for the elite 1%.
The study comes just a day before US President
Barack Obama's State of the Union address, in which he is expected to call for tax increases on the wealthy to help the middle
class.
In October, a report from banking giant Credit
Suisse also said that
the richest 1% of people own nearly half of the world's wealth. BBC,19 January 2015 Last updated at 08:12
No comments:
Post a Comment