Wealth concentrated on privileged few while millions of people are barely subsisting

Billionaires clocked their fortunes by a total of nearly £2billin per day last year, as the wealth of the world’s poorest dwindled by  11 per cent according to Oxfam.

The world’s 26 richest people now hold the same amount as the poorest half of the global population, down from 43  in 2017. The worth of world’s billionaires increased by £700bn in 2018, while 3.4 billion people still survive on less than £4.27 a day.

Mathew Spencer, Oxfam’s director said “ the massive fall in the number of people living in extreme poverty is one of the greatest achievements of the past quarter century but rising inequality is jeopardising further progress.

The way our economies are organised means wealth is increasingly and unfairly concentrated among a privileged few while millions of people are barely subsisting.