Cancel the Debt
TELL PRIME MINISTER TRUDEAU:
Canada must cancel the debt to address global inequality, especially during crises like COVID-19.
Global inequality has been on the rise for years. Now, as the ongoing inequality crisis meets the new COVID-19 crisis, the impacts for some of the world’s most vulnerable people could be devastating. This could set back the fight against poverty by a decade, and in some cases by as much as 30 years.
Simply put, poverty makes every crisis worse.
Right now, many low and middle-income countries spend more paying off international debts than they do on health care.
Oxfam Canada is asking our Federal Government to support the cancellation of all external debt payments in 2020 as part of the global plan to boost national healthcare systems. A moratorium on these payments for low and middle-income countries could free up nearly $100 billion dollars for healthcare spending in one year alone.
Oxfam Canada is also calling on the Canadian government to ensure the wealthy pay their fair share by making key changes to our tax policy. Closing tax loopholes, increasing taxation on the wealthiest 1 percent, and cracking down on the use of tax havens will enable governments, including Canada’s, to invest in public services and infrastructure to support the most vulnerable in our communities.
Join us in calling for change!