Jim Clarken: Covid-19 has reinforced existing inequalities across the world
Half a billion people could be pushed into poverty because of the fallout from the pandemic unless urgent action is taken, suggests Oxfam s Jim Clarken.
Sun, 14 Feb, 2021 - 18:00
Throughout history, pandemics have forced us to see what and who matter most.
Think of the care-workers and nurses who have tended to people over the last year. The farmers and factory workers who’ve ensured our food supplies.
The family and loved ones we haven’t seen or hugged. The scientists who’ve worked tirelessly to find a vaccine. The clean air we breathe for survival.
Report shows rich getting richer during Covid-19 crisis
Ten richest men increase worth by half a trillion dollars
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The 1,000 richest people on the planet recouped their Covid-19 losses within just nine months, while it could take more than a decade for the world’s poorest to recover from the economic impacts of the pandemic, a new report from Oxfam revealed today.
Mirroring this global inequality trend, Ireland’s own nine billionaires saw their fortunes increase by €3.28 billion since March – a tenth of which would pay for a Covid-19 vaccine for every person in the Republic of Ireland. Meanwhile, essential workers - such as our carers and supermarket and factory workers – cared for our vulnerable and kept our food supplies running throughout the pandemic - quite often on minimum or low-paid wages.
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The report states it could take at least 14 times longer for the number of people living in poverty to return to pre-pandemic levels than it took for the fortunes of the top 1,000 billionaires to recover.
Oxfam said its report was supported by the work of 295 economists from 79 countries across the world and 87% had predicted an increase or major increase in inequality in their countries.
85% of Irish economists surveyed for the report agreed there would be an increase in inequality in Ireland, with the majority believing it would be the worst rise in inequality since the financial crash in 2008.
âWe stand to witness the greatest rise in inequality since records began, with the deep divide between the rich and poor proving as deadly as the virus itself, Jim Clarken, Chief Executive of Oxfam Ireland, said.