Aussie companies privatise profits, socialise losses

Thursday, 19 November 2020

The Australian taxpayer is businesses’ best friend.

We have already witnessed company profits soar during the pandemic courtesy of JobKeeper, while workers’ wages and salaries tanked:

Senior executives of Australia’s largest companies also secured massive bonuses after claiming JobKeeper subsidies:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.