CPRC - Consumer Policy Research Centre (@cprc-research.bsky.social)

The rich are getting richer: Australia’s wealth divide continues to widen Wealth of Australia’s richest 200 people equal to about 25% of GDP, report finds Follow our Australia news live blog for latest updates Get our morning and afternoon news emails, free app or daily news podcast The wealth of the richest 200 people in Australia is equivalent to nearly a quarter of national GDP, with researchers warning that if this trend continues, wealth disparity will soon destroy any remaining semblance of equality in Australian society. The wealth of the very rich has more than tripled in the past two decades, from 8.4% of Australia’s GDP in 2004 to 23.7% of GDP in 2024, with the top fifth of households holding wealth 146 times greater than the bottom fifth, according to research released on Tuesday by the Australia Institute. Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading... https://www.theguardian.com/australia-news/article/2024/aug/13/the-rich-are-getting-richer-australias-wealth-divide-continues-to-widen?CMP=aus_bsky