World’s Richest Shake Off Crisis in Record Setback for Equality
- 1,000 wealthiest people already recouped losses, Oxfam says
- Charity says governments should make tax policy more equitable
Photographer: Luis Acosta/AFP/Getty Images
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The world is witnessing the greatest rise in inequality on record, with the poorest likely to feel the effects of the Covid-19 pandemic for years to come while the “mega rich” have already bounced back, according to Oxfam.
That’s the conclusion from a report by the charity, which charts the wealth effects of the deepest slump since the Global Financial Crisis as widespread shutdowns of businesses lead to rising unemployment.