One in eight Aussies living in poverty

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A new report by the University of New South Wales (UNSW) and the Australian Council of Social Service (ACOSS) claims 13.6% of Australians live in relative poverty after housing costs are taken into account.

ACOSS CEO Cassandra Goldie says the depth of poverty in Australia is getting worse, with households in poverty on average living 42% beneath the poverty line, up from 35% in 2007. Meanwhile, Bruce Bradbury from the UNSW says the “main drivers of poverty trends” are the rate of social security payments and increased housing costs:

Acoss’s chief executive, Cassandra Goldie, said the low rate of Newstart, a lack of jobs and unaffordable housing were “locking people in poverty”.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.