'Big business is gaslighting us all—they're hiking prices to make monster profits, plundering people under the cover of a polycrisis.' —Oxfam
The two groups found that"45 energy corporations made on average $237 billion a year in windfall profits in 2021 and 2022" while"food and beverage corporations, banks, Big Pharma, and major retailers also cashed in on the cost-of-living crisis that has seen more than a quarter of a billion people in 58 countries hit by acute food insecurity in 2022."
"People are sick and tired of corporate greed," Amitabh Behar, Oxfam's interim executive director, said in a statement."It's obscene that corporations have raked in billions of dollars in extraordinary windfall profits while people everywhere are struggling to afford enough food or basics like medicine and heating."
"Government policy should not allow mega-corporations and billionaires to profiteer from people's pain." Oxfam and ActionAid argued that governments should"claw back gains driven by profiteering" by imposing a 50-90% windfall tax on the profits of major corporations.
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