Labour Party finance spokesperson Grant Robertson said inequality was getting worse and the government should be prioritising policies to deal with it. 'So if you earn under $60,000 and have a couple of children, in all probability you'll pay no tax and get significant Working For Families payments in New Zealand.'' 'While of course the top end own a lot more assets because of their capacity to save, there are very heavy levels of redistribution in New Zealand. Mr Key said the government wanted to make sure those that were less well-off could also afford homes.

Three in five New Zealand households living in their own home had a mortgage, with a median mortgage value of $172,000. The figures showed the average household was worth $289,000, and the most valuable asset they owned was the house they lived in. 'It's not surprising it's getting a little bit more that way because, in reality, better-off New Zealanders will own assets, particularly houses, and those house prices are rising and that's what will be driving that.''

Prime Minister John Key Photo: RNZ / Rebekah Parsons-King Prime Minister John Key told reporters the figures were consistent over the past 20 to 30 years and were similar to when the Labour government was in office. We've been working with these conditions for the last 30 years, anything that we shift is going to be pretty big and long-term, these are intergenerational investments.'' Growing wealth divide 'not surprising' 'We shouldn't fool ourselves into thinking there is a simple solution or fix to these things. Mr Eaqub said no single policy would fix the divide between the haves and the have-nots.

I think that tells you how precarious it is to live in New Zealand at the moment.'' 'That tells you that most people don't have much of a wealth stake to borrow against or ride out the tough times. Institute of Governance and Policy Studies research associate Max Rashbrooke said there were certain risks associated with that. The figures showed housing was the country's main source of debt and wealth. 'Every time we see a new statistic on inequality, whether it's in terms of income, opportunities or wealth, it shows very clearly that New Zealand is being ripped apart by our class system.'' Independent economist Shamubeel Eaqub said the figures were further confirmation of the country's growing class divide.

Growing Apart by Shamubeel Eaqub