Oxfam: The wealthy must contribute to society fairly

Oxfam says big business & the super-rich undermine anti-poverty strategies & inclusive growth is needed to solve gross inequality.

FILE: Many of Hangberg's residents live in poverty. Picture: Aletta Harrison/EWN

JOHANNESBURG - With the annual World Economic Forum set to get underway on Tuesday, Oxfam says in order to achieve economies that serve, all the wealthy must be made to contribute to society fairly, which could be done through a higher tax.

On Monday, the charity released it’s 'An Economy for the 99%', a report which has found that inclusive growth is needed to solve gross inequality in societies across the globe.

The organisation has noted that big business and the super-rich are fuelling the crisis by avoiding tax, driving down wages and using their power to influence government policies.

Activist Mbhekiseni Mavuso tells the story of how a mining company tried to extract iron ore in their community in Melmoth, Kwazulu- Natal without their consultation.

“We are poor but we are not stupid. We fought this company. It was destroying our land, our environment, and our graves which is our heritage.”

Oxfam says such stories shows how big business and the super-rich undermine anti-poverty strategies and use their power to influence government policies to work in their favour.

The charity says it’s time to build what it calls a 'human economy' where corporations stop working for those in top positions and address gender inequality in the global economy.

For more news, analysis and insights on Davos 2017 go to EWN’s WEF portal in partnership with Ashburton Investments.

(Edited by Neo Koza)