Address inequality, de Venecia prods govts

Former Speaker Jose de Venecia called on governments and parliaments to tackle the problem on inequality, noting that the richest one percent or 80 of the world’s richest individuals own 60 percent of the wealth of the world, or the same amount shared by 3.5 billion who occupy the bottom half of the world’s income scale.

Speaking successively at the premises of the Kennedy Caucus Room of the US Senate and the US House of Representatives, de Venecia quoted prestigious international charity OXFAM: “America’s 300,000 richest individuals now collectively enjoy almost or much income as the bottom 150 million.”