growing together: the australian social democratic model

GROWING TOGETHER:THE AUSTRALIAN SOCIAL DEMOCRATIC MODEL

Presentation by

Hon Wayne Swan MPMember for Lilley

Treasurer (2007 – 2013)Deputy Prime Minister (2010 – 2013)

Chart 1GDP growth since 2007, G7 economies and Australia,

per cent

Source: IMF World Economic Outlook database

Chart 2

Trends in real median equivalised household income, Australia, 1981–82 to 2011–12 (1981–82 = 100)

Source: Calculated from Johnson and Wilkins (2006) and Australian Bureau of Statistics, Household Income and Income Distribution surveys, various years.

Chart 3

Trends in real incomes at different decile points, Australia, 1994–95 to 2011–12 Cumulative percentage change in real equivalent income-

unit income

Source: Calculated from ABS, Household Income and Income Distribution surveys, various years.

Chart 4

Extent to which a father’s income is a predictor of what his son will earn

Source: Miles Corak 2012

Chart 5

Income share of the top 1 per cent across Australia, the US and the UK(%)

Source: The World Top Incomes Database

Chart 6

Minimum relative to average wages of full-time workers, per cent, selected OECD countries (2011)

Source: OECD

Chart 7

Total welfare expenditure, per cent of GDP (2009)

Source: Australian Institute of Health and Welfare, Australia’s Welfare 2013.

Chart 8

Test score Inequality and earnings inequality

Source: Economic Journal

Chart 9

Australia’s mean scores in reading, mathematical & scientific literacy in PISA, 2000 and 2009

Chart 10

Tax expenditures for superannuation by income decile, per cent (2009-10)

Source: The Treasury, Distributional analysis of superannuation taxation concessions.

Chart 11