Oxfam report on growing inequality details ‘rising wealth at the top and rising poverty for the rest’
Oxfam’s report also indicates that at a combined €15 billion, Ireland’s two richest people have more wealth than the 50 per cent of the population at the other end of spectrum, who have a combined €10.3 billion.
Until last year, Ireland’s wealthiest individual was Indian-born engineering billionaire Pallonji Mistry, who was worth an estimated €13.8 billion at the time of his death last June aged 93. Mr Clarkin said a tax on Irish wealth at graduated rates of 2 per cent, 3 per cent and 5 per cent above a threshold of €4.7 million would raise €8.2 billion annually.
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