Wealth inequalities dictated by tax havens
by RomyLeclerc on March 30, 2016 - 9:07pm
Since we are little, we are aware that we are lucky to have the lifestyle we live daily. We also know that other kids in poorer countries cannot have this chance.
Indeed, on January 18th 2016, Oxfam published a report about inequalities and poverty worldwide. This report reveals that more than 25% of the money made in United Kingdom annually is in fact owned a thin percent of the British population.
The article “Oxfam says UK's top 1% took quarter of all new wealth over past 15 years” by Rob Davies published in The Guardian on 14 March 2016 explains that Britain has an uneven spread of wealth within his population. The organization wanted to point out also the fact that more and more people are using food banks to be able to feed themselves.
Oxfam wants to ring alarm bells for people concerning this growing phenomenon. According to Mark Goldring, the organization wants people to take action in order to “ensure everyone gets a fair share”.
In fact, according to them, in order to reduce this harrowing fact, we have to take care of the tax havens worldwide.
Indeed, the wealthiest people, not only from UK but from anywhere in the world, are placing enormous amounts of money away from their own country in something called tax haven. By doing so, they stop paying taxes. Therefore, because this movement is one of the principal reason why this unequal wealth divide exists, we have to plan an action against it.
According to the report, British government is losing more than 120 billion £ because of tax havens when the poorest regions of the country are missing out on 43 billion £.
Oxfam is asking the chancellor George Osborne to take advantage of this year governmental budget to require big companies to publish their data on profits and taxes contributions.
Here’s the link of the article on The Guardian:
Here’s a link to Oxfam’s report: https://www.oxfam.org/sites/www.oxfam.org/files/file_attachments/bp210-economy-one-percent-tax-havens-180116-en_0.pdf