A report by Australia Institute shows 93% of economic growth accrues to top 10%, while study says housing cost makes living alone impossible for some
and I’ll be bringing you some of the top stories before my colleague takes the reins.
Our lead story this morning concerns the Australian army’s response to the Brereton inquiry into alleged war crimes. Guardian Australia has learned from a freedom of information request that the culture within the special forcesfrom now on. In addition, the defence force will update its policy on time away from the battlefield to ease stress.
Our data and business experts have teamed up with the research firm CoreLogic to track house prices in the wealthiest suburbs and we’ve found that values have fallen almost 25% in some areas, led by Mona Vale in Sydney’s north and Kew East in Melbourne.they are in crisis and have “completely lost their sense of direction”, with cost-cutting, casualisation and “ridiculous” teaching loads to blame.
Also in this morning’s news, the national housing campaign Everybody’s Home has found there are virtually no regions of Australia where a single full-time essential worker, such as those in aged care, early childhood or nursing, could afford a rental by themselves. And a new paper from the Australia Institute shows 93% of the benefits of economic growth between 2009 and 2019 went to the top 10%, while the bottom 90% received just 7%. That’s because wages are going backwards in real terms, and it’s only the people who benefit from surging corporate profits who are getting ahead.
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