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New Zealand's astounding wealth gap challenges our 'fair go' identity | Max Rashbrooke

New data shows the richest 1% are worth 68 times more than a typical New Zealander

The extent of wealth inequality in supposedly egalitarian New Zealand has been laid bare by figures showing the wealthiest individuals have over NZ$140bn (US$93bn) stashed away in trusts – and overall have nearly 70 times more assets than the typical Kiwi.

The new data, drawn from the 2017-18 Household Economic Survey, are likely to underestimate true inequality, as the ultra-wealthy are generally reluctant to take part in such surveys.

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from World news | The Guardian https://ift.tt/3ba1GRK
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