New research released today by Oxfam shows that the richest one percent of New Zealanders hold 20 percent of the country's total wealth, while 90 percent of the population account for less than half the nation's wealth (NZME)

Oxfam report shows widening inequality, Labour blames govt

Author: Newstalk ZB Staff ,
Publish Date: Mon, 16 Jan 2017, 1:21PM

The Government is getting the blame for newly released income inequality figures

New research released today by Oxfam shows that the richest one percent of New Zealanders hold 20 percent of the country's total wealth, while 90 percent of the population account for less than half the nation's wealth.

Labour Leader Andrew Little is blaming the Government for the disparity, saying middle New Zealand is being squeezed by National Party policies, while the fruits of growth go to a wealthy few.

He said better wages and making housing affordable are fundamental to fixing the problem.

The report, called "an economy for the 99 percent" shows the gap between rich and poor is growing at an alarming rate, and not just in New Zealand.

Oxfam's executive director Rachael Le Mesurier said this year the report includes data from India and China.

She said it really paints a picture of the extent of poverty around the world, as well as the immense wealth of a small number of individuals.

"The numbers that we had were up in the 80s three years ago, went down to the 30s last year and now we're actually at eight, so that is deeply depressing."