Wealthiest 10% captured growth in company profits while most Australians watched their real wages shrink, Australia Institute finds
- Follow our Australia news live blog for the latest updates
- Get our morning and afternoon news emails, free app or daily news podcast
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.
Continue reading...