Another light has been shone on the pandemic rorting at the top end of town, which have used and abused the JobKeeper wage subsidy to line their pockets:
An investor analysis of ASX-listed companies by proxy advisors Ownership Matters found about two in five of companies who received government subsidies to help them ride out the pandemic paid executive bonuses worth a total of $24 million. They received nearly $1.8 billion in taxpayer subsidies, with JobKeeper accounting for more than half of this…
Ownership Matters co-founder Dean Paatsch said the way the JobKeeper subsidy was designed – with a single qualification period and the ability to claim at subsidiary level – made it inevitable it would end up as a stimulus for executive bonuses or shareholder dividends.
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