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https://www.theguardian.com/australia-news/2023/sep/27/australias-wealthiest-20-worth-90-times-the-countrys-poorest-new-report-reveals>
"Australia’s wealth gap has continued to grow over the past two decades, with
superannuation and property investment driving inequality across the country, a
new report from the Australian Council of Social Service and the University of
New South Wales has revealed.
Over the past two decades the average wealth of the top 20% has grown at four
times the rate of the lowest, the report has shown using figures from the
latest Australian Bureau of Statistics data in 2019.
Australia’s wealthiest 20% were worth an average of $3.2m in 2019 – six times
the amount of the middle 20%, who were worth an average of $588,000, and 90
times that of the lowest 20%.
The wealthiest 5% were worth an average of $6.7m, holding one-third of the
country’s wealth.
UNSW researcher Prof Carla Treloar said the report showed while income
inequality has remained relatively steady, wealth inequality has increased over
the past 20 years.
“We can reverse this trend through more affordable housing and a fairer tax and
superannuation system,” Treloar said.
“Additionally, increasing income support payments permanently will reduce
income inequality.”"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
