Australia heading in wrong direction when it comes to income inequality

Australia heading in wrong direction when it comes to income inequality

A new report has revealed Australia’s level of income inequality is above the OECD average as inequality between the richest and poorest Australians increases.

The Australian Council of Social Service, which has released the report today, has found Australians in the top 20% of income earners had 70 times as much wealth as those in the lowest 20%.

ACOSS Chief Executive Cassandra Goldie said while Australia’s inequality is not extreme by international standards, it is trending in the wrong direction.

Ms Goldie also said strong employment growth over the past 17 years assisted in reducing inequality but unequal wages growth increased inequality.

She said in a country as wealthy as Australia there is no reason for citizens to be excluded and unable to realise their potential.

The report has been released ahead of the ACOSS National Conference which gets underway in Sydney on Thursday.

If you would like to view the full details of the report please click on the below link.

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