The Wealth Gap is Widening – New Research

New research by the Australian Council of Social Services (ACOSS) in partnership with UNSW Sydney is showing an ever widening wealth gap between people with the most and those with the least.

The report Inequality in Australia 2024: Who is affected and how? shows the average household wealth of Australia’s highest 10% has increased by 84% in the last 20 years. Meanwhile, the average wealth of the lowest 60% of Australians has risen by just 55%. If we look at the increase in wealth in households aged under 35, the gap between highest and lowest is even greater. Other key findings include that (in Australia), nearly half of all wealth is held by the top 10% of households. They hold 15 times the wealth of the lowest 60% of households.

To help us understand the stats and discuss what can be done towards a more equitable future we’ve asked one of the key researchers to speak with us. Professor Carla Treloar, UNSW spokesperson for the UNSW-ACOSS ‘Poverty and Inequality Partnership’,  joins The Daily host Nelson Scott to discuss.

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