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The Guardian - AU
The Guardian - AU
Business
Amy Remeikis

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

Australia United States Economic Growth Australia Institute Matt Grudnoff Inequality the Australia Institute
Australian bank notes
The Australia Institute’s senior economist, Matt Grudnoff, says most Australians would feel like “they are not getting ahead” since 2009. Photograph: Chameleons Eye/Rex/Shutterstock

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.

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