Latest Economic Justice

Australian companies rake in $98 billion in ‘crisis profits’ off the back of global suffering: Oxfam report

NAB, Woolworths, BHP and Hancock Prospecting are amongst the companies that have amassed staggering crisis profits The top 500 Australian corporations made $98 billion in additional ‘crisis profits’ off the back of the COVID-19 pandemic and the Russian invasion of Ukraine between 2021-23, a new Oxfam report reveals, as the organisation calls for a ‘crisis […]

Australian dividend payouts to shareholders rise 6 times faster than worker pay since 2020

Australian dividend payments to shareholders from corporate investments grew six times faster than worker pay between 2020 and 2023, new Oxfam analysis reveals on International Workers’ Day (May 1).   Accounting for inflation and through COVID-19, the war in Ukraine and the cost-of-living crisis, dividend payments in Australia rose 37%, while average real wages in Australia […]

Gaza hunger figures “worst on record” – says Oxfam

In reaction to the Integrated Food Security Phase Classification (IPC) report published today on Gaza stating that famine is imminent in Northern Gaza and, if Israel persists in its hostilities and restricting humanitarian access, there is a real risk of famine for the rest of the enclave, Sally Abi Khalil, Oxfam’s Middle East and North […]

Oxfam response to changes to stage three tax cuts

In response to the Australian Government’s announcement on the stage three tax cuts, Oxfam Australia’s Interim Director of Programs, Rod Goodbun, said:   “We welcome today’s announcement that the Australian government has taken positive measures to address the relentless surge in the cost of living and enhance the fairness of the stage three tax cuts. “The […]

Nearly three quarters of millionaires polled in G20 countries support higher taxes on wealth, over half think extreme wealth is a “threat to democracy”

Polling comes as 260 millionaires and billionaires sign new letter, directed at political leaders attending the World Economic Forum in Davos, saying they would be “Proud To Pay More” in taxes. A staggering new poll has revealed that support for higher taxes on wealth is popular with dollar millionaires from across G20 countries. It comes […]

Oxfam reaction to renewal of hostilities in Gaza; humanitarian pause ends

Reacting to news today that the humanitarian pause agreed between the Government of Israel and Hamas has ended, with renewed hostilities, Oxfam Humanitarian Director Marta Valdes Garcia said: “While Oxfam welcomes the release of Israeli and foreign national hostages back to their families during the pause, and the reuniting of Palestinian prisoners and detainees in […]

Big business’ windfall profits rocket to “obscene” $1 trillion a year amid cost-of-living crisis; Oxfam and ActionAid renew call for windfall taxes

722 mega-corporations raked in $1 trillion a year in windfall profits in 2021 and 2022.  A windfall tax of 90 percent on last years’ windfall profits could generate $941 billion —money that now could be used to tackle poverty and climate change.  While profits soared, one billion workers across 50 countries took a $746 billion […]

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