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"If we're going to reduce inequality, we have to be the ones putting forward solutions," said Clancy.
Ottawa (19 Jan. 2014) – In its 2014 global risks report the World Economic Forum identified income inequality as the risk “most likely to cause serious damage in the next 10 years. For people fighting income inequality this is good, and bad, news.
World business leaders recognize income inequality is a problem but won't move to help fix it
The World Economic Forum consists of 1,000 corporations with revenues of at least $5 billion. When even those benefiting from income inequality acknowledge it is a problem, it means our work is having an impact.
On the other hand, people who have profited from rising inequality are unlikely to recommend anything that will actually reduce income inequality. Instead we can expect proposals that sound good, but do nothing.
“The people making decisions at the World Economic Forum include CEOs from companies that caused the current financial crisis and make aggressive use of tax havens. They are not going to support action that will actually reduce inequality”, said James Clancy, NUPGE National President.
We must put solutions forward to ensure action
Among the “strategic partners” in the World Economic Forum are six of the world's 20 largest oil companies, and three financial institutes that received a $524 billlion in public funds to bailout after the subprime mortgage crisis in 2008.
“If we're going to reduce inequality, we have to be the ones putting forward solutions,” said Clancy.
NUPGE
The National Union of Public and General Employees (NUPGE) is one of Canada's largest labour organizations with over 340,000 members. Our mission is to improve the lives of working families and to build a stronger Canada by ensuring our common wealth is used for the common good. NUPGE