Dylan Thorne: Crumbs from the tables of rich men

According to Oxfam, the richest 1 per cent of Kiwis have 20 per cent of the wealth, with 90 per cent of the population owning less than half of the country's wealth.

Research showing two New Zealanders have more wealth than the poorest 30 per cent of the adult population should give us pause for thought.

The research by Oxfam, which examines wealth, not disposable income, is part of a global report on wealth inequality released by the charity.

The two richest Kiwis cited are Graeme Hart and Richard Chandler, with wealth estimated at US$6.4 billion ($9b) and US$2.7b ($3.78b) respectively.

According to Oxfam, the richest 1 per cent of Kiwis have 20 per cent of the wealth, with 90 per cent of the population owning less than half of the country's wealth.

Rachael Le Mesurier of Oxfam NZ says wealth inequality is trapping huge numbers of people in poverty and fracturing our societies as seen in the changing profile of NZ home ownership.

Finance Minister Steven Joyce says the latest OECD data shows that income growth for the bottom 10 per cent of earners has been the second-fastest in the OECD since 2010.

He also says the comparison of Hart and Chandler is "nonsensical", because they mostly accumulated their wealth overseas.

He has a point.

We should celebrate Kiwis who are successful on the world stage and accumulate wealth through astute business decisions, taking risks and working hard.

But it is clear, in my view, that income growth for the bottom 10 per cent of earners may not be keeping up with the rising cost of living, especially in relation to housing costs.

Last year there were rising reports of families facing homelessness as the cost of rents and housing rose rapidly.

The trend was happening in a region named as having one of the strongest economies in the country, complete with a booming job market.