Blessed are the rich, for theirs are the taxes of the poor! Elite private schools gorged themselves on JobKeeper despite their profits, on top of Pandemic stimulus payments, and as well as trousering a bigger slice of the federal funding pie at the expense of public schools. Trevor Cobbold investigates the latest hand-outs.
Hope Unlimited church reported a profit of $43,355 in 2019, which increased dramatically to $1.6m in 2020 in part with government pandemic payments
Gucci and Prada owe Josh Frydenberg a debt of gratitude. Louis Vuitton is not alone. The Italian high fashion houses got JobKeeper too. Michael West and Callum Foote report as evidence emerges the Treasurer opted to ignore advice regarding a claw-back mechanism to get the money back from profitable companies.
JobKeeper for dentists? Fair enough. But more public subsidies for doctors’ lobby groups who enjoyed rising surpluses or hardly suffered a downturn? Callum Foote reports on Australia’s Medical Colleges refusing to pay back the millions in JobKeeper payments.
Big business doesn’t vote, small business does. That’s the dilemma for Scott Morrison and Josh Frydenberg as they try to keep JobKeeper secret heading into the election. Michael West reports.
Treasurer Josh Frydenberg and his big business patrons are in crisis mode amid rising demands to end the JobKeeper cover-up and disclose the transfer of billions to from average Australians to large and profitable companies. Michael West on the unfolding political drama.
Unless they disclose who got it, JobKeeper will remain a giant festering stain on the reputation of big business in Australia. Michael West reports on business’s greatest shame.
Australians overwhelmingly believe companies that have used the federal government’s $98 billion JobKeeper program to boost their profits should be made to repay the cash.
The Coalition government’s signature employment policy for young people JobMaker has created just 609 jobs. And thanks to the flawed design of JobKeeper, which shut out many young people from key financial support, superannuation accounts were emptied, for which the young will pay a heavy price down the track. Kathryn Daley, Belinda Johnson and Patrick O’Keefe report.
For a conservative government obsessed with bringing its budget into line and eradicating six years of its own deficits, JobKeeper at first glance looked like a scheme lifted straight from the texts of the much-reviled John Maynard Keynes. Roundly proclaimed as a game changer when introduced, there’s no doubt the $90 billion flagship scheme was wildly successful. It kept 3.6 million Australians off the dole queue and tied to their employer. And as a secondary political benefit, that had the happy effect of obscuring the true level of unemployment, which only counted those on JobSeeker.How JobKeeper turned into profit maker – ABC News
The retailer said it would pay dividends totalling $249m, of which Gerry Harvey is set to receive $78m due to his 31.4% shareholding in the company. Despite this, they declined to pay back the estimated $22 million they somehow collected for JobKeeper, a payment they should never have qualified to receive. But that’s all fine and dandy with the Treasurer apparently who won’t be asking for the money back from any of the companies who claimed the payment despite making higher profits. As Secretary of the ACTU Sally McManus pointed out, “They have no qualms about requesting and forcing people to pay back Centrelink payments – no problem with that whatsoever. Somehow we’re all supposed to sit back and say ‘oh well that’s OK, that’s just the rules that apply to big business in this country’.How good is Gerry! – » The Australian Independent Media Network
Most of the ASX-listed companies that received JobKeeper subsidies didn’t need it, and the great majority of those are keeping the money.Alan Kohler on JobKeeper and how big companies made out like bandits
Yesterday we kicked off the corporate welfare awards with a round of prizes for some of the most dubious JobKeeper recipients — billionaires, investment bankers and large companies handing out big dividends to shareholders with one hand while taking from the taxpayer with the other. Roll up! The greatest rort on earth is playing out in a company near you Read More Today we continue the theme with another round of accolades for business heavyweights who cashed in on the $100 billion scheme. Some were gracious enough to hand it back — a noble and PR-worthy act. Others couldn’t quite bear to part with the cash. We also give a gong to the little companies that made big profits thanks to the scheme. Here’s hoping they don’t fly under the radar.JobKeeper gravy train keeps rolling on for corporate welfare rorters
Shipping group Qube Holdings will give back $17m in JobKeeper subsidies but pockets $13.5m and some fancy executive bonuses despite its revenue rising strongly. How did it pull this off? Callum Foote investigates how the Liberal Party-linked Qube gamed the Tax Office.BossKeeper: ports giant Qube bullies its way into Jobkeeper and plush bonuses – Michael West
As Jobkeeper, JobSeeker and other stimulus measures are wound back in 2021, it is doubtful the Morrison Government will rise to the enormous economic challenges ahead, writes Tarric Brooker.The Morrison Government and the biggest withdrawal of spending since World War 2
New Zealand and the US compile public registers to ensure their Jobkeeper-type subisidies are not rorted by businesses. But no such transparency for Australians. As the Government singles out bureaucrats such as Australia Post chief Christine Holgate for corporate excesses, Tasha May shines the torch on pandemic rorting at the top end of town. JobKeeper is the single largest piece of government spending in the country’s history. Yet despite taxpayer funding this hundred billion dollar wage subsidy, there is no public database to see whether JobKeeper is being used appropriately. From the limited information that has come to light, it seems clear that it is not. A report from governance advisory service Ownership Matters reveals four kinds of appalling activity by business.BossKeeper: how JobKeeper lined the pockets of top ASX directors, executives and shareholders – Michael West
Hefty cuts to income support mean that Australia now faces a potentially more deadly epidemic than Covid-19. But it is largely avoidable, writes Michael Tanner.Cuts to JobSeeker, Jobkeeper: out of the frying pan and into the fire – Michael West
It found a further 25 companies in the ASX 300 who had been given JobKeeper support payments paid their executives bonuses totalling more than $24 million.War is hell: how the corporate class is coping with Covid’s injustices (Crikey Sep 16, 2020) – Pearls and IrritationsPearls and Irritations
The Morrison Government’s JobKeeper scheme is in trouble. By privatising the administration of JobKeeper to businesses and privatising its funding to the banks, millions of workers are in limbo. Millennial industrials relations lawyer Daniel Anstey reports.