Virus to exacerbate inequality: Oxfam

Coronavirus will increase global inequality according to an Oxfam report which found Australia's 31 billionaires have boosted their wealth by $85 billion during the pandemic.

That figure is enough to give the 2.5 million of the poorest Australians a one-off payment of $33,300 each, the anti-poverty charity says.

Chief executive Lyn Morgain says the inequality is particularly shocking considering the country has gone through its first recession in 30 years.

"We found that it would take a nurse 259 years to earn what a top Australian CEO earns, while a CEO could earn the annual salary of a nurse in 1.3 days," she said.

"The critical nature of the work of all of our healthcare workers who continue to tackle this crisis ... has rarely been more apparent in the Australian community as it is now.

"This global emergency has truly laid bare the entrenched injustices of our current economic system, which only serves to deepen inequality, particularly in times of crisis."

The Oxfam-commissioned survey canvassed 295 economists from 79 countries, with 87 per cent expecting an increase or major increase in income inequality in their country due to the pandemic

The world's 1000 richest people recouped their COVID-19 losses within nine months, the report found.

It could take more than a decade for the world's poorest people to recover from the economic impacts of the pandemic.

Ms Morgain is calling on the Australian government to do more to build an equal, inclusive economy.

"The fight against inequality and poverty must be at the heart of economic recovery efforts," she said.

"Our government must invest in public services and low carbon sectors to create millions of new jobs and ensure everyone has access to a sustainable social welfare safety net.

"They must ensure the richest individuals and corporations contribute their fair share of tax to pay for it."

The report also found the world's 10 richest men saw their combined wealth jump by half a trillion dollars since the pandemic began.

Oxfam says the figure is more than enough to pay for a worldwide COVID-19 vaccine and to ensure no one is pushed into poverty by the pandemic.