Oxfam research highlights NZ’s wealth inequality
Oxfam is urging the government's tax working group to address the country's widening wealth inequality.
Research from the humanitarian charity shows the richest 10% of New Zealanders hold almost 57% of the country's wealth.
Meanwhile, the 1.4 million people, who make up the poorest 30% of the country, share less than 1% of the wealth.
Oxfam Executive Director, Rachael Le Mesurier described the figures as shocking and disturbing.
“Inequality undermines our economy, it slows down our economic progress, damages democracy and creates bigger gaps between the haves and the have not’s which isn’t good for society and it puts billions of people into poverty.”
Oxfam also says women are disproportionately affected by wealth inequality.