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Australia's Wealth Gap Widens | Melbourne News

Australia's Wealth Gap Widens | Melbourne News

Published 2 weeks, 6 days ago
Description

Australia’s wealth gap is widening fast—average wealth up 19% since 2020, but median wealth down 7%, thanks to housing booms and a few ultra-rich pulling ahead. This trend mirrors global inequality in the US, UK, and Germany. While superannuation helps, the system doesn’t fix the imbalance. Economists debate if this hurts growth or sparks instability, and while taxes help income, they barely touch wealth. Solutions like land or inheritance taxes are being tossed around—but no easy fixes yet.

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