Statement on Oxfam Report
“The cost-of-living crisis has been difficult for everyone except the wealthy,” asserted People Before Profit representative Adrian Curran.
This follows the release of a new report from Oxfam, detailing the enormous wealth inequality experienced in Ireland and around the world.
Two key points from the report included that,
Just 1% of the population holds 27% of the wealth in Ireland and,
The two wealthiest people in Ireland have more wealth than the entire poorest 50% combined.
For everyone €93 of wealth created in Ireland since 2012, €31 went to the wealthiest 1% and 50c went to the bottom 50%.
Curran commented, “Wealth inequality continues to be an issue in Ireland that successive neoliberal governments are uninterested in eradicating. The decades under austerity were especially difficult for workers and carers. The past 12 months likewise. However, for the wealthy of Ireland, their riches continue to grow whilst people struggle to afford their heating.”
“The solutions are there,” asserted Curran. “We need an effective wealth tax in this country. We need to utilise the wealth of the 1% for the good of everyone. That wealth can be used to build new homes, retrofit existing ones, give everyone access to free and frequent public transport, and more. Over €3 billion could be raised by a 2% tax on Irelands 18,000 wealthiest households.”