Labor takes aim at NBN Co’s exorbitant remuneration

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Shadow communications minister Michelle Rowland has asked the Auditor-General to undertake an independent review into the bonus system at NBN Co. Labor’s government accountability spokeswoman Kimberley Kitching says an audit is badly needed, following revelations earlier in 2021 that NBN Co staff have been paid almost $80 million worth of bonuses during the COVID-19 pandemic.

The bonuses have been skewed toward staff on higher incomes, with those earning more than $200,000 a year receiving an average bonus of $50,000:

Only one in 10 NBN Co employees earning less than $100,000 a year received a bonus in the latest figures, while staff earning more than $200,000 received an average of $50,000 bonus payment…

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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.