Oxfam calls for windfall tax as 99% of world population takes a pay cut while top 10 incomes grow by $1bn a day
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The 10 richest men in the world have seen their global wealth double to $1.5tn (£1.01tn) since the start of the global pandemic following a surge in share and property prices that has widened the gap between rich and poor, according to a report from Oxfam.
Urging governments to impose a one-off 99% wealth tax on Covid-19 windfall gains, the charity said World Bank figures showed163 million more people had been driven below the poverty line while the super-rich were benefiting from the stimulus provided by governments around the world to mitigate the impact of the virus.
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