(ed: this report is timely – and this snapshot of all that is wrong about ‘equality’ in new zealand – couldn’t be clearer imperative for the new jacinda ardern led coalition labour government – could it..?)
The richest 1 per cent of Kiwis have bagged 28 per cent — $42 billion — of the wealth created in a single year.
Meanwhile the poorest 1.4 million people (30 per cent of the population) got barely 1 per cent — $1.5b — of all the wealth created in 2017.
Credit Suisse data showed wealth grew by $148b in New Zealand in 2017 to a total $1.597 trillion from $1.449t in 2016.
These figures were released by Oxfam today ahead of their report Reward Work, Not Wealth – to be revealed this afternoon.
The research also showed a mere 10 per cent of New Zealanders own more than half the nation’s wealth and the inequality gap had widened significantly in the past year.