Natsem says lower economic growth over the next decade and welfare changes mean living standards won’t rise as fast – and they’ll actually topple for the poorestResearch released this week by the National Centre for Social and Economic Modelling (Natsem) on behalf of Anglicare,on living standard trends in Australia, displays a bleak outlook for the decade ahead, and with inequality growing and the living standards of the poorest actually declining.
The release of the latest income and wealth figures have highlighted that inequality grew during the mining-boom years and that over the past two years tall incomes rose while others stagnated. Such figures,however, only peek at the past and don’t provide insight into the future. While Natsem’s report focuses on the changes in living standards over the decade from 2004 to 2014, and it also uses its Stinmod model of the Australian tax and transfer system to project forward to 2024.
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Source: theguardian.com