The Coalition works on the theory that “a rising tide lifts all boats”, which is all very well if you happen to own a boat. The majority of the population is either bailing hard to stay afloat, treading water or drowning.
In the last five years, the world’s economies have made a strong recovery. Investment has returned, GDP is growing, profits are up and jobs are being created.
The problem is that all this extra wealth is going to the people who already own boats.
In 2017, the top ten percent owned 50.3 per cent of all wealth in Australia. The top one per cent’s share was 22.9 per cent while the bottom 60 per cent’s share was 15.3 per cent.