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Seanad
‹ An tOrd Gnó - Order of Business

Billionaire wealth inequality

Summary

Senator Warfield highlighted the surge in billionaire wealth since the pandemic as evidence of deep social inequality and an economy rigged for the rich.

We learned yesterday about the obscene amount of wealth that has been accumulated by billionaires in this country and around the world since the Covid pandemic began. According to Oxfam, the wealth of the world's billionaires rose more in the past two years than it had in the previous 23 combined. In Ireland, billionaires have increased their worth by more than €15 billion since the start of the pandemic. This highlights very starkly the scourge of social inequality and an economic system that is rigged in favour of those at the very top. We know that the wealth is created by workers, by those who fail to share in the value that they create. The Leader should schedule a debate on the Oxfam report and also on whether this country should implement a wealth tax, as has long been called for by those on the left.

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