GROWING TOGETHER THE AUSTRALIAN SOCIAL DEMOCRATIC MODEL Presentation

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GROWING TOGETHER: THE AUSTRALIAN SOCIAL DEMOCRATIC MODEL Presentation by Hon Wayne Swan MP Member

GROWING TOGETHER: THE AUSTRALIAN SOCIAL DEMOCRATIC MODEL Presentation by Hon Wayne Swan MP Member for Lilley Treasurer (2007 – 2013) Deputy Prime Minister (2010 – 2013)

Chart 1 GDP growth since 2007, G 7 economies and Australia, per cent Source:

Chart 1 GDP growth since 2007, G 7 economies and Australia, per cent Source: IMF World Economic Outlook database

Chart 2

Chart 2

Chart 3 Trends in real median equivalised household income, Australia, 1981– 82 to 2011–

Chart 3 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 4 Trends in real incomes at different decile points, Australia, 1994– 95 to

Chart 4 Trends in real incomes at different decile points, Australia, 1994– 95 to 2011– 12 Cumulative percentage change in real equivalent incomeunit income Source: Calculated from ABS, Household Income and Income Distribution surveys, various years.

Chart 5 Extent to which a father’s income is a predictor of what his

Chart 5 Extent to which a father’s income is a predictor of what his son will earn Source: Miles Corak 2012

Chart 6 Income share of the top 1 per cent across Australia, the US

Chart 6 Income share of the top 1 per cent across Australia, the US and the UK(%) Source: The World Top Incomes Database

Un Me ite xic o d St at e Cz Es s ec t

Un Me ite xic o d St at e Cz Es s ec t h oni Re a pu b Ro lic m an ia Ja pa n K Lu or xe e m a bo ur g Sp ai Slo Gr n va e k R ece ep ub Hu lic ng ar Po y la Lit nd hu an ia Un T ite ur k d Ki ey ng do Po m rtu g Ca al na da Ne Lat th via er la nd s Isr ae l Ch Be ile lgi um Ire la Au nd st ra Slo lia ve ni a Ne Fra w nce Ze al an d Chart 7 Minimum relative to average wages of full-time workers, per cent, selected OECD countries (2011) 0, 6 0, 5 0, 4 0, 3 0, 2 0, 1 0 Source: OECD

e De den nm ar Fr k an c Au e st r Fin

e De den nm ar Fr k an c Au e st r Fin ia la nd It Be aly N lg Un eth ium ite erl d and Ki ng s d Ge om rm a Po ny rtu g No al rw ay Ja pa n G Lu re xe ec m e bo ur g Sp a Hu in ng a Ice ry la n Ire d Un la nd ite P d o la St n at es Slov d of en Am ia er i Es ca to ni Cz a ec Can h a Slo Re da va pu k R bl ep ic u A bli Ne ust c w rali Ze a al an d Isr ae l Ch il Tu e rk ey Ko re M a ex ico Sw Chart 8 Total welfare expenditure, per cent of GDP (2009) 30 25 20 15 10 5 0 Source: Australian Institute of Health and Welfare, Australia’s Welfare 2013.

Chart 9 Test score Inequality and earnings inequality Source: Economic Journal

Chart 9 Test score Inequality and earnings inequality Source: Economic Journal

Chart 10 Australia’s mean scores in reading, mathematical & scientific literacy in PISA, 2000

Chart 10 Australia’s mean scores in reading, mathematical & scientific literacy in PISA, 2000 and 2009

Chart 11 Tax expenditures for superannuation by income decile, per cent (2009 -10) Source:

Chart 11 Tax expenditures for superannuation by income decile, per cent (2009 -10) Source: The Treasury, Distributional analysis of superannuation taxation concessions.