Sumary of Morrison brushes off calls to recoup JobKeeper from thriving businesses, after new report finds ASX-listed giants made soaring profits while receiving wage subsidies:
- Sumary of Morrison brushes off calls to recoup JobKeeper from thriving businesses, after new report finds ASX-listed giants made soaring profits while receiving wage subsidies:.
- Prime Minister Scott Morrison has again brushed off calls for profitable businesses to repay the JobKeeper subsidies they accrued…
- His statement follows a new report which claims a fifth of the JobKeeper payments made to Australia biggest ASX-listed companies wound up in the accounts of profitable businesses…
- Prime Minister Scott Morrison has again brushed off the suggestion that profitable companies should repay millions in wage subsidies, after a report found a fifth of Australia largest ASX-listed JobKeeper recipients recorded profits in the back half of 2020…
- Speaking to reporters in Canberra on Thursday, Morrison was asked if firms which booked major profits through the pandemic should repay the taxpayer subsidies they accrued…
- The question built on a new report from corporate advisory group Ownership Matters, which found that of the top 300 ASX-listed companies that claimed JobKeeper in the six months to December 31, 58 reported profits over the same time period…
- The report also found 34 of those companies claimed profits above pre-COVID levels, suggesting many once-struggling businesses flourished as pandemic restrictions eased…
- But the Federal Government does not require companies which legitimately qualified for JobKeeper to repay the wage subsidies they received, even if their fortunes miraculously improved later on….