Companies claiming a bigger share of profits at the direct expense of workers shows the need to properly tax big corporations and the super wealthy, the Greens say.

National accounts figures released today show that the wage share of total income has fallen to just 50.6 per cent, the second lowest on record and lowest in 61 years.

The figures also show that profits share of income has hit 30.3 per cent, the highest on record.

Greens Treasury spokesperson, Senator Peter Whish-Wilson, says that Scott Morrison’s supply-side economics response to his worsening budget deficit will do nothing to address the budget position and will only exacerbate inequality.