Super-rich tax request - 13th June 2022

Some of the World Economic Forum's millionaire delegates are advising world leaders to demand higher taxes from them. Increases in contributions would provide governments with assistance to manage the cost of living crisis.

The annual gathering of global political and business leaders is taking place for the first time following the pandemic. UK millionaire Phil White's attending and represents the group Patriotic Millionaires. He's clear on the issues with the WEF:

"While the rest of the world is collapsing under the weight of an economic crisis, billionaires and world leaders meet in this private compound to discuss turning points in history. It's outrageous that our political leaders listen to those who have the most, know the least about the economic impact of this crisis, and many of whom pay infamously little in taxes. The only credible outcome from this conference is to tax the richest and tax us now."

White's group is partnering with other left-wing groups, charities and anti-poverty campaigners at Davos. They're calling for a new direction at the conference because the existing economic system's failing. They demonstrated outside the conference venue to demand fairer taxation systems across the world.

Although the number of millionaires in the crowd was small, many more across the globe are making the same demands. They're asking governments to impose higher rates of taxation and introduce wealth taxes on the super-rich. The campaign also sent Davos delegates an open letter signed by millionaire supporters around the world.

A regular feature at the WEF is a report produced by Oxfam about global inequality. It reveals that while a new billionaire was created every 30 hours over the last two years, a million people are falling into extreme poverty every 33 hours.