There has been a huge increase in the wealth of the 1 percent richest people in the world

According to a report by the non-profit Oxfam, the wealth of the world's one percent richest people has increased by about Rs 42 lakh crore in the last 10 years. This amount is about 36 times more than the total wealth of half the people in the world.

Yet these rich people paid less than half a percent tax on their total wealth. Most of the world's richest people (about 80 percent) live in G-20 countries. Now, in the G-20 summit to be held in Brazil, there can be a discussion on imposing more tax on these rich people. According to Oxfam, the wealth of the rich has increased very fast, but the tax on these people has become very low. This has widened the gap between the rich and the poor. Most people are living on very little money. Brazil is currently the president of the G-20. The economy of the G20 countries is equal to 80 percent of the total economy of the world. Brazil wants these countries to impose more tax on the rich. The finance ministers of these countries are looking for ways to impose more tax on the rich and curb their practices of tax avoidance.

Testing time for G-20 governments

According to Oxfam, this is a big test for the governments of the G20 countries. Oxfam wants that at least eight percent tax per year be imposed on the wealth of the rich. According to Max Lawson of Oxfam, the demand for imposing more tax on the rich is increasing rapidly. But the question is, will the governments have the courage to do this?

Rich countries increase climate funding figures

Earlier this month, Oxfam accused rich countries of inflating figures to maintain funding for developing countries. These countries claimed to have provided funding of around $116 billion in 2022, but in reality the amount was just $35 billion.

Rich countries broke their promises

At the 2009 Copenhagen Climate Change Conference, rich countries pledged $100 billion a year from 2020 to help developing countries fight climate change. But the distribution of this money has been delayed, leading to a lack of trust in these countries and increased disputes at climate conferences. Rich countries have actually committed only $28 to $35 billion in sustainable funding in 2022.