What's the story? Two leading economists have crunched the numbers on the wealth divide in this country, adding some factors not covered in the official statistics. And it reveals the impact of what they're calling the "elephant in the room".
Let me guess: it's housing? Yes, by factoring in tax and other benefits from home ownership, the experts found an income inequality between owners and renters of 86 per cent, not the 34 per cent captured in the official data. They say this "home owners' welfare" is fuelling price rises.
So… what can be done? The experts rattle off some options for how home ownership could be taxed and concessions replaced, with measures they describe as "economically efficient" and "justifiable". But one thing they are not? Politically palatable.
In not entirely unrelated news: Fresh off the back of yesterday's interest rates cut, our business editor is reading the tea leaves on where the cash rate will go from here
, and what that means for the economy as a whole.
BONUS: You can see how the big banks reacted to the rates news, and work out how the change affects you.
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