lead doing her duty. i think she's played very well. exactly the role of the constitutional one. she's the most charismatic. so the photograph, most famous women, the wild, but she's also very enigmatic. we hardly know her, and i think being able to stay above politics, but seen as relevant and respected has been really important in the twilight of queen elizabeth's reign. a gentle reduction of royal duties after the death of her husband of 73 years. prince philip, in the midst of the pandemic, a time when queen elizabeth's words to the nation have scarcely mattered more. we will be with our friends again. we will be with our families again. we will meet again, even as more more people question the role in the purpose of a royal family. in a modern democracy, there is something of a cosiness, a familiarity. so how long rain and genuine public affection for women and a queen who ties past and present generations together. nay, paul, can,

i'll just 0 london. ah, let's recap those headlines now. russia is accusing the united states have deliberately adding fuel to the 5 by supplying the bonds precision guided rocket ukraine. the kremlin says it doesn't trust assurances and washington, the rockets will not be 5 into russia. at least 4 people have been killed, including the attacker in the latest and mass shooting in the us. a man armed with a rifle and hand gun opened fire inside the medical building and tulsa, oklahoma. the 18 year old white sauce spiked in the supermarket. shooting in buffalo, new york is facing 25 count for murder and domestic terrorism. payton can run is accused of opening fire in the store, killing 10 african americans thing called the racially motivated attack.

rosie headlines. the news continues here and now just 0 off the stream. me. the problem was we need to know that on this we don't need to be here with nuclear looking to mrs. me about how to put them to me on the dimensions of the thing you open the home and yeah, today and we're going to be what we said as well. they didn't put me in a lot of them at the hospital. gave me yeah. when i know,

i mean, i mean, i shooting them off and just use from al jazeera on the go. and me tonight out is there is only a mobile app. is that the, this is where we dissects. analyze with from out is there is a mobile app available in your favorite app to just set for it and tap the made a new app from audi 0 need at you think it it with

hi anthony. okay, this episode of the stream is inspired by a new oxfam report called, profiting from pain. ok, some found that junior global pandemic, every 30 hours a new billionaire is created at the same time, at least 1000000 people have been pushed into extreme poverty. so today we're unpack, outs, fams report, and also ask a pandemic profiteers have a responsibility to make sure that they help people who has suffered during a pandemic the top one percent and will not possess more than 2 $100000000.00 and be our young underway as an unseen. ringback but i think that the remedial news, hey, we're here to have those possibilities of back because we have to remember there's no south south sort of seem that it may man we have all again. oh

wow. shoe the society. sure. good. the rose ineffectual, good workers and so on. so yeah, the good to give back. let's meet your panel who are ready to talk about extreme. well, some what should be done with that extreme wealth? julia everett at shall welcome to the stream julia, please introduce yourself and tell our audience a briefly your connection with extreme wealth. hello? yes, yes, my name is today if, and i'm a member or question as you pay for a group of people who have come together to raise the issue. that very imperative need to increase tax from wealthy people. so are you in a group you, you need to be a multi millionaire. i'm not necessarily as wealthy as our child. so the exchequer isn't really just new to us at the moment. but you do need to be in a position that you would have to pay the condo complex that were calling tons of

projects. checkout in united kingdom is a minister of finance. he has a lot of money. eric hello, welcome to the stream. introduce yourself and say very briefly, your connection with extreme wealth. sure and thank you for having me. my name is eric tamir and i work in oxfam america, which is part of the broader oxfam international from federation. and i'm, my focus is on the private sector and our mission really is to fight inequality in order to eliminate poverty. and so more and more our focus has been on how we can reduce inequality in order to meet our mission. gets a hat here and welcome back. i shall always love to have you on the stream, your connection to extreme wealth and re introduce yourself to audience please. a booking guarantee. my connection to extreme with the extreme,

clear to leave the pharmaceutical industry in the west has led consequently to the loss of life for at least the lack of availability of life saving medicines to people in countries that i worked in. i represent and it's been a, it's been a, it's been a better relationship with extreme world. and what that let me to start a stand role that monopolies played this, not just in the pharmaceutical industry, but elsewhere as a symptom of this grotesque concentration of wealth. and power. all right, you've met the panel. you can be part of our discussion as well on you chief the comment section is like your comments or questions for i guess i'd be part of today's show, this idea in it. other billionaire being created every 30 hours, how long does it normally takes? i believe i had to be created? is it some kind of speed it up process because of the pandemic? because that is a pretty shocking it is. and look, we've been living for in

a call with inequality now for quite some time, but the pandemic did supercharge how quickly billionaires are being created. so just to give you another point of contacts, billionaires have made more in the last 24 months of the pandemic than they did in the last 23 years. so this gives you some idea rate of just how quickly billionaires are accumulating wealth and it's growing exponentially. and this is really troubling because it's at the same time that this is happening. we are seeing nearly half of 1000000000 a quarter of a 1000000000 people being pushed into extreme poverty. and that means hunger for many, many people. julie, would you mind cuz i love to hear you say this, just say out loud. what a 1000000000 actually means,

because it is so much go ahead. hello, i asked, i keep hitting the need to say this because of e and then the median. they sound the same, don't know that they are so very different and a 1000000000. that's what a 1000000000 is a $1000000.00 less than you know, someone who has a $1000000000.00. and that was just a huge sum of money, which most people just cannot, you know, believe in matching what they would do with that sum of money. i'm one of the questions that we've been considering at pasha. it millionaires is, can somebody have too much money? and i've been thinking about my last couple of days and i'm already, yes they can. and what's indicators that someone has too much money will perhaps one of them is that the only thing that they can think of to spend a huge sum that money on it is getting a bigger super bowl. another video buddy or, or, or traveling to space for fun. and we, we live in a climate crisis and that is absolutely intricately connected to poverty. i'm sure

there's a oxfam will buy mia from us. you know, we, we are only going to be suffering a law policy, a lot more stream and, you mean crises, a health crisis, everything is going to be exacerbated by that. i'm so if you have someone that has so much wealth that all they can think of it within that wealth, if these things which are just exponentially contributing to this already type on crisis that we are facing at. i'm just thinking about some of the pharmaceutical new billionaires that have been created during a time of one of the the, the worst times. and i, history and living memory for the whole world. i know that we've spoken about this before, but we're really focusing in on why did that wealth come from? how did they get so rich in just a couple of years. perverse thing about it is that one handful of new 1000000000 created out of the field of

biotech, which is the company in germany that created the back team that they've given the gate and and the ceo of montana who have been who is an american and and these 2 seos did something extraordinary in the pandemic. they created a 2 m r n. a vaccines using messenger ordinate at knology that were content with other directions in the market, which is why get them in europe and united states. and they created revolution and technology. the good news actually, the easier to hit any of the vaccines and pad prior to the but there's just one problem with them is that they're not available anywhere outside of europe at united states. i work in a country, brazil, south africa, brazilian south africa. now, i mean, much later than europe is have access to

a fight the back seats in the country with 1300000000 people about 6 of humanity they've been dealing with. our lives has 0 access to a minor vaccines. and so when you look at who gets the, who gets the benefit of this extraordinary technology, this extraordinarily lucrative technology, it's incredibly perverse to put these things together because i've lost up, grunted india, and follow up to the delay getting back to and you just suppose that with this extraordinarily astounding new work that's been created by me on the basis of a life saving good that has been purposely denied to everyone who could get one. i find that the astonished we can live with now can i just add to that? and because i completely agree, and, you know, to add a little bit more color here,

40 new farm on billionaires. since the pandemic 40 because of companies like madonna and pfizer, who are, by the way, making a $1000.00 profit every 2nd. just because they have this monopoly control over proven 19 vaccines. this is despite the fact that the development was supported by billions of dollars of public investments. i mean, this is one of the things i think we need to really consider when we think about inequality and how billionaires make their money as one of your i think guests pointed out, it is built off that infrastructure of the public investments that all of us paid for through our taxes and yet billionaires are not contributing to the tax revenue in the same way as every day working. people are in then. sure. yeah i'm, i'm just thinking here because we're talking about 1000000000 as,

as if they are on nameless people. but some of the wealthiest people have made more money for agriculture and food during the pandemic. tell us one story, so we can put a face on the billions it very we add that. yeah, happy to. well, if we look at food and food billionaires, 62 new food billionaires have been created as a result of the pandemic. and this now food crisis and people like james cargo, mr. cargill was probably act to have jose potentially celebrating with all the other billionaires who have done so well during this time, his family is the 11th, richest family in the world. they own the majority of cargill, which is one of 4 companies for the control over 70 percent of the global market of agricultural commodities. right. these are commodities like wheat and other greens that are critical. food staples,

were so many people living around the world. their wealth grew by almost $20000000.00 every day since the start of the pandemic. each day they were making $20000000.00. their profits were $5000000000.00 in 2021, which was the biggest they'd ever made. and they're expected to exceed those profits . this year they went from having 12 bill. excuse me, 8 billionaires before the pandemic to now having 12 billionaires. and since the pen debt man, i am yes. so you know, these are real people that are, that are literally profiting off the pain of many, many people. so what will the jim engine him to hey yeah, yeah, any time i think it's really good, you know, if to that background, to put into context, you know, how working people are firing in comparison to multi millionaires ambien. so in the

u. k, we've been lobbying for wealth types. we put forward a reasonable proposal for a wealth tax which would have kicked in a wealth of $5000000.00 bottles that was rejected. it wasn't considered on the same time machine insurance, which is a particular form of taxation, which only people only pain national insurance on income that they received from working. they don't receive it from income that they receive or wealth, which is what a. busy multi millionaire hasn't been in as, who will receive at that was totally rejected. and so instead of taking a contribution from the wealthiest in society to, to tackle, with the few crises that we are facing here in u. k. one of the wealthiest countries in the world, we now have with that to increase and billionaires has been coincided with increasing food banks in the u. k. shameful, absolutely, shameful. it's also an increase in people who are working extremely hard and still unable to pay their families. so we have these been in is increasingly, you know,

just scattering more and more of the, of the world's wealth. and at the same time, people working really, really hard in, in countries that should be wealthy for all like you k. and they cannot leave their families even though they're working now. so they can manage to, i'm just thinking about one of the things that i know you focus on a monopoly, i do over wealth is being concentrated in a way that it wasn't in the past. what are you seeing? what can you share with us about the solutions to this crisis of burgeoning equality again and it's interesting that jupiter said a respond to this on several times. of course is this idea of progressive taxation, which of course i support, i think. and one very good way to try to curb this, any quality, but it is of course treating the symptoms rather than addressing the root of that

problem. and i think the root of that problem in, in history, and especially today, live in a kind of grotesque concentration of wealth and power, which is often is out of a legally granted or an accidental monopoly. there are no accidental monopolies. of course illegal police are very intentional, but they haven't been, they haven't been granted to monopoly in the way that in the pharmaceutical industry companies are true agents for instance, when we think about monopolies in gender. so if we talk to ordinary people about monopolies in regard to and say, what do you think you think about our, please good. the instinctive answer is no. it path for the economy that for society, economists have worked for decades against the idea of monopolies. we all understand them instinctively as thing for the bad for us, and yet we have so many of them. this is astonish, right? and i think what we need to address the root causes of this trillion,

same inequality that you're seeing for us is to take the idea of regulation of monopoly. seriously. this 1st to reconsider what we think off is legal monopolies, why we have them and see if they have any place or whether they need to have a readjusted place in society. and then to look at the kinds of accidental monopolies we have, like in the tech industry, for instance, whether it's google in search or whether it's amazon. as far as shopping goes, we need to be able to have the muscle to take on these extremely valuable companies who employ hundreds of thousands of people and have a kind of extraordinary, extraordinary political clout as a result. but if we had the ability to divide and then the must to create and enforce the kind of recognition back countries like united states in europe actually been enforced far better. if you in 50 or 60 faculty with a 100 get back there they can today. right. and if we took that idea seriously

everywhere that the work because the human genetic not just being treated to europe happening and we would under, we will understand and be able to back up one any significant route off the budgeting inequality that we prefer. alright, i'm, i am my to mean this julia, but if they're reluctance to tax the wealthy, is that in my mind, is that a reality? well, my guess in my mind as well i'm, i'm definitely feeling that. so as i said in the run up to the spring statement, which is the statement which chunk for the 2nd, i saw it. basically, he decides what i typed is being taken from the shape in the run up to that we put in proposals, as i said, for a minute, well, facts we were paying to explain that that would be kicking when people really didn't buy well for themselves. if you've got more than $5000000.00, you pay,

you pay, i can afford to pay more, but we weren't, we would, we would know decisively and other settings if it's a taxable work that was put in place. and when we've raised this, we get 2 things. one is, oh, he wants to play with the fact that maybe something you will, that's not time to say, i don't think you'll find to everybody group quite a lot. well, how to address, which is crazy for holiday, my climate, crosby and environmental homes, which will go to the hollow everything that anyone could possibly kara out and getting on one of the other on sit on the screen if we put it on. well, judy just saying, hey, i'm just saying are on the screen while you're talking, we have 1000000 as protesting and dabbling because they want to pay more tax. carry on doing. yeah, absolutely, absolutely. so as i said, and we say that we like to be tax, the results that we've had for that,

which i think is, is quite bureau to be honest, is that we can pay more taxes. we won't see that. that's not new. jason, that's our main pillar. one puts out at 1000000 as you k, i'm it ain't how anything is just a few of us pay a bit of extra tax. what we need is a systematic taxation or well, and that will address the multiple crises that we are facing, both in the u. k. and across the world, because obviously we need this to happen a global level. yeah. the other thing that we get ramos is if you put, if you came poster well, thanks. well, old, wealthy people will just go abroad. well, what i say to that is, you know, if you really care about your country, so listen that you're willing to move abroad to avoid contributing there. you know, a solving was all the problems that we face. you know, all the problems at nana chassis facing and the rent is, yeah, do they ask that he knows of their duty se even made you? you've made all the arguments because you hear them all the time. is the stereotypical arguments for why the wealthy can't pay tax and you're saying as

somebody who is in that privileged position, if i may say so that these are not good solid reasons. let me show to our audience at what an annual wealth tax could do. what are the possibilities of an annual wealth tax? it could generate as much as $2.00 to $2000000.00 a year. the enough to live to point 3000000000 people out of poverty, make enough vaccines for the world. deliver universal health care, social protection for everyone in middle lower income countries that is on an annual wealth tax. earlier we spoke to julia and julia said, though it is a problem with asking people to pay a tax when they're already extremely wealthy. and she put up a couple of issues hitches the i city, the research that was conducted in african countries. so far mindset wealthy individuals in these countries are under tax. and it's not that it can't be done.

many of these countries have enabling laws in place. the wealthier publicly known and they invest in very feasible ways, most notably in land and buildings. the challenge is political will. eva, because the wealthy are politically connected or they are politicians in a 3 year study that we conducted in uganda. for example. we found that out of 70 government officials who owned big businesses, less than 2 percent of those individuals who are paying personal income taxes. julio, any pushback, some of those problems with the wealthy, wanting to pay tax, or trying to evade tax. i want to bring in alex called them here with very appreciative of what the conversation oxfam has started. yes. we'll see in damages. our site meetings

are a a, a eric and i just just, yeah, yeah, go ahead as, as we put the recommendations up for, for alzheimer's, suggesting but i tell you, go ahead. i want to say that i so support this idea of a progressive taxation. the tax laws type good harold, generate more revenue for government. i think what government do is that what state do with that is also very important to address the root causes of these versioning, billionaire, to play and give you an example of what i mean. i work across india, brazilian from africa and i was looking at just a bit now. several of the billionaires in health care in india own hospital change . so this is a very specific sector off the healthcare industry. they run hospital change right

. there are no millionaires in south africa, brazil who john hospital chains, and that is because brazilian of africa, excellently functioning public systems that are very well funded. that the large income spectrum of people in brazil and south africa use, right. whereas in india, we have a very poorly functioning health care system which only the very poor and the absolutely desperate use. whereas everybody else from lower middle class upwards will use private healthcare and private hospital. right. and so to the extent that the state of creates doesn't actually just performs its duty, does what it needs to, what the state doesn't have to run the equivalent of netflix to keep people entertained in a panoramic. netflix made a lot of money out of the pandemic as well. right? and so, you know, it's not like the state has to stick into every single thing to take care of citizens. but if it were to address the very basic things that it could do for its

people in terms of basic healthcare, basic education, you would, you would, you would remove the opportunity to create a whole new class of dozens of billionaires in those industrial sectors. because the state is actually doing its job, i to, i'm just going to finish up with, with some recommendations area. i'm gonna let you do something in just a minute. if i can not, i always oxfam se these pandemic profiteers are making the world a worse place. for many people suffer during the pandemic. you also had some recommendations, so it's a good place to end the show. let me share them with you again. and you can help us understand. what do you think is the most important, the most tangible out of these recommendations? that is most doable because you really are changing the wealthiest people in the world to pay up it final thoughts? yeah, look, we absolutely have to start taxing but extreme wealth that exists and we have to do

it on a regular basis. so that annual wealth tax is going to be the systemic solution that we need in place threw out the other 2 solutions really are responding to the moment in time. right. break the pandemic, the crisis. thank you so much. air, it's an agile and judy are the so much more to talk about that. thank you so much for understanding and helping us to understand how people are profiting from pain and then maybe what some of the solutions are for that. thanks for joining us. i see you next time. take everybody ah. for over a century american parents have entrusted their sons to the boy scouts of america, hoping they would gain skills that would improve their lives. instead,

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