Heated debates around inequality in Australia.

Opposition leader Bill Shorten claims disparities between the rich and poor are the worst they've been in 75 years.

But Australia's Treasurer disagrees he said the gap has been shrinking, while Reserve Bank Governor Philip Lowe claims it's spiked thanks to a rise in asset prices.

Australia correspondent Donna Demaio told Nadine Higgins Mr Lowe claims the rich are getting richer but no one's seeing eye-to-eye.

"He says this does present quite a number of challenges for government but the treasurer says he was talking about what was happening decades ago, it's not happening now."

LISTEN ABOVE AS DONNA DEMAIO SPEAKS WITH NADINE HIGGINS