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G7 countries ‘fuel global inequality’ more than they fight to reduce it – Oxfam to RT

G7 countries ‘fuel global inequality’ more than they fight to reduce it – Oxfam to RT
The Group of Seven, comprising some of the world’s richest nations, has pledged to fight global inequality but, often times does the opposite, only exacerbating the problem, international charity Oxfam told RT.

The leaders of the so-called G7 states – the US, Canada, Britain, France, Germany, Italy and Japan – are set to meet over the weekend in the French city of Biarritz on the Atlantic coast. The gathering’s host, President Emmanuel Macron, warned about the “crisis of inequality” plaguing the world.

However, the Group of Seven has in some cases made the problem worse, Jon Date, the head of government relations at Oxfam, a global poverty-fighting charity, told RT.

We found that actually, in a number of areas, the [G7] countries are fueling rather than reducing inequality.

The governments in these countries are “promoting a ‘shareholder first’ business model that does not suit the needs of workers and many people in developing countries on a low income,” Date said. The G7 leaders also exacerbate the situation by failing to adopt a wealth tax and tackle climate change, he noted.

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Oxfam’s recent study shows that, despite the G7 states promising in 2017 to alleviate global inequality, “no real actions, commitments or plans to deliver true change” have followed. Date added that some of the world’s richest economies have even made certain steps back from the agenda.

We’re seeing regressive tax systems in countries like the US. Also, in the UK we can see the headline rate of corporate tax fall further, which exacerbates inequality.

In 2017, Macron scrapped the wealth tax introduced by his predecessor. The move then became one of the drivers behind the massive Yellow Vest anti-government protests that have been sweeping the country for the last 10 months.

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