New research shows that nearly half of the nation's wealth is held by the richest 10 per cent of Australian households. It has put the spotlight on the stark inequality between the most and least financially capable.
Chris Sprake from The Wellington community centre in Melbourne says the demand for food assistance has only grown in the last 18 months.New research shows that nearly half of the nation's wealth is held by the richest 10 per cent of Australian households. It has put the spotlight on the stark inequality between the most and least financially capable.Lately, its stock of fresh food lasts no more than a few hours."Sometimes it's really hard to buy something.
"So there's been a significant increase in people accessing food security. We also provide free online health services, and they're running at capacity. But, in the last 18 months, more and more people who would consider themselves traditionally middle class are turning up and saying I had to choose between rent and food this week, so they come to us for food."
Still, certain groups, including single parent households and migrants born in non-English speaking countries, frequently place among the lowest percentile."This is not a normal situation. What we're facing here is an acceleration of a divide in the Australian community, that will be very damaging for us socially, economically and also for the health of our democracy."
"This is a deeply moral question that we need to be confronting. We need, as a very wealthy country overall, to be deeply disturbed that we've got people on some of the lowest incomes, going without food on a regular basis, living in fear of becoming homeless on the one hand. And the we've got people with a large accumulation of wealth."A recent analysis by the Real Estate Institute of Australia showed house prices are overvalued by over 29 per cent.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Matt Denny Sets New Australian Discus Record at Australian Athletics ChampionshipsMatt Denny sets a new national discus record at the Australian Athletics Championships, solidifying his chances of winning an Olympic medal.
Read more »
South Australian winemakers toasting new opportunities after China lifts tariffs: 'The phone really started exSouth Australian winemakers are toasting new opportunities after China lifted its tariff on Australian wine.
Read more »
Australian women to receive 65 per cent of intergenerational wealth transfer: JBWereWomen will receive 65 per cent of the nearly $5 trillion due to pass from Baby Boomers and their parents to the next generation in the next decade, a new report finds.
Read more »
Australian Grand Prix 2024: Potential and pressure for Australian F1 drivers in MelbourneOscar Piastri will join Daniel Ricciardo on the Melbourne grid this year, marking the first time since 2013 that two Australians have raced in the same grand prix.
Read more »
Formula 1 Australian Grand Prix | Australian Financial ReviewThe latest Formula 1 Australian Grand Prix news, articles and analysis from the Australian Financial Review
Read more »
Formula 1 Australian Grand Prix | Australian Financial ReviewThe latest Formula 1 Australian Grand Prix news, articles and analysis from the Australian Financial Review
Read more »