The issue of common ownership has only received occasional attention in Australian public discourse and even then, it has largely been incomplete. As such, this Inquiry is timely to enable mitigation of the current risk of drawing ill-founded conclusions from an incomplete picture.
Capital concentration has the potential to distort market competition and increase rent-seeking behaviour. It can hinder businesses who seek to access capital for growth and the adoption of technology throughout the economy. The McKell Institute submits to the inquiry that wealth inequality is the primary driver of capital concentration and must be addressed.