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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:

  • 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….

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