wealth

The 21 billionaires in the Middle East and North Africa saw their wealth increase by nearly $10 billion since the start of the COVID-19 crisis, while 45 million more people in the region could be pushed to poverty as a result of the pandemic, a new Oxfam report has revealed.

Lower income households are twice as likely as high income households to have increased their use of consumer credit during the crisis, and are 50 per cent more likely to be saving less than usual.

Christian Aid has launched a campaign calling on the UK Government to help address the inequalities in wealth and power that have led to the climate crisis.

The uncounting of people at the very bottom of income levels and of the hidden wealth of people at the very top means inequality is grossly underreported, says the Tax Justice Network.