Education is one of the key factors behind the growing income gap, said a report by Khazanah Research Institute.

According to the report, titled The State of Households 2018: Different Realities, heads of households that had higher education and skills earned three to four more times that those who didn't have formal education or skills.

However, it's not just a matter of access to education, said economics professor M Niaz Asadullah.

"Life chances still depend on where you were born," he said. "Better quality schools require high household income. This is a fundamental disparity that is being reflected in our income gap."

Watch the full video to find out more about the consequences of a growing income gap, and possible solutions.

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