BANGALORE: The global Wealth Gap has risen and widened even more creating a bigger void between the rich and poor in the world. As per the latest report from Oxfam 62 richest people on earth now own as much wealth as the poorest half of the global population holds, reports Independent.
The research by the charity Oxfam states that the wealth of the poorest half of global population, since 2010, which includes 3.6 Bn people has witnessed a drop by 41 pct which amounts to 1 Trillion Us Dollars.
On the other hand, the wealth accumulation of the 62 richest people globally has elevated to $1.76 Trillion showing an increase of half a Trillion.
Within a time span of a year the wealth gap between richest and poorest globally has surged by 1 percent as per the report.
Wealth of 388 people accounted for the total wealth of half of the global poorest in 2011. By 2012, the number dropped down to 177 thereby continuing the fall to 80 in 2014 and 62 in 2015.
A crackdown on tax evasion, increased investment in public sector and increasing salaries of the low paid is the way out to this growing wealth inequality, suggested Oxfam.
“It is simply unacceptable that the poorest half of the world population owns no more than a small group of the global super-rich – so few, you could fit them all on a single coach,” said Mark Goldring, GB chief executive, Oxfam.
“Tackling the veil of secrecy surrounding the UK’s network of tax havens would be a big step towards ending extreme inequality. Three years after he made his promise to make tax dodgers ‘wake up and smell the coffee’, it is time for David Cameron to deliver,” he added.
HMRC was also warned by the Public Accounts Committee of MPs in regards to the failure of department for the revelation of the scale of tax avoidance taking place in Britain.
Addressing the staggering levels of inequality in the world, the report is a reminder for the politicians to look into the situation and come forward with a solution to it.
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