Australia’s richest captured 93% of economic growth between 2009 financial crisis and Covid, paper shows

Wealthiest 10% captured growth in company profits while most Australians watched their real wages shrink, Australia Institute finds

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A new paper from the Australia Institute shows 93% of the benefits of economic growth between 2009 and 2019 went to the top 10%, while the bottom 90% received just 7%.

The paper shows the share of economic growth going to the top 10% over that period was far higher in Australia than in other developed countries, including the US and Canada.