Oxfam echoes call to end “oligarchic rule” at Vatican tax justice summit

Brazilian President Luiz Inácio Lula da Silva, Spanish Prime Minister Pedro Sánchez, former South African President Thabo Mbeki, former Senegalese Prime Minister Aminata Touré, and economists Joseph Stiglitz, Jayati Ghosh and Gabriel Zucman today delivered a powerful and unequivocal message at the Vatican: the global oligarchy must be challenged through fair taxation of the super-rich. In response, Oxfam International’s Tax Lead, Susana Ruiz, said:

“The wealth of the super-rich is exploding at a terrifying pace, driving inequality to extremes that threaten democracy, justice, and the survival of life on Earth. We are watching, in real-time, as the super-rich tighten their grip on power and hold entire societies hostage to their greed.

“2025 is not just another year —it is a last-ditch opportunity to stop runaway inequality. With South Africa chairing the G20, Brazil hosting COP30, and Spain driving the Fourth International Conference on Financing for Development, the world has a rare, historic chance to shatter the grip of billionaire power.

“This is a battle against extreme inequality. Either we allow the super-rich to continue hoarding wealth and power and writing rules to serve themselves, or we fight back by taxing them, breaking their stronghold on power, and dismantling their monopolies to reclaim our societies from the forces of oligarchic rule."