Covid: In Australia, companies have been ordered to repay a portion of state aid

Parmi les entreprises ayant bénéficié du dispositif Jobkeeper, le spécialiste des paris sportifs Tabcorp n'a pas rendu les aides perçues malgré des profits records.

Posted on September 7, 2021, at 1:56 PM

The initiative started with good intentions and it largely fulfilled its objectives. The partial unemployment plan, put in place by the Australian government at the outbreak of the epidemic, aims to prevent the outbreak of layoffs by paying employees $ 3,000 (approximately 8 1,870) a month. they.

To benefit, it is enough for companies to predict a 30% revenue drop in the next six months and a 50% return for those with more than $ 1 billion in revenue.

Thus, unemployment rose slightly and then fell very quickly. In addition to the state, this made it possible to maintain high levels of consumption, despite the change in salt (ில்லியன் 61 billion).

14% of the beneficiaries are companies

The problem is that some of the companies that have benefited from the device have either escaped their own pessimistic predictions or improved their performance during the crisis. About 200,000 of them, or 14%, benefited from the corporate employment system. They received a total of nearly eight billion euros.

Figures released following the nomination of Labor MP Andrew Lay to the Parliamentary Budget Office. The latter believes, “Such a large-scale waste is unheard of in the history of Australia.” He added, “As of June 2020, Scott Morrison and Josh Friedenberg (Prime Minister and Minister of Budget, Editor’s Note) were aware that billions of dollars had been paid to companies.”

Among these companies are sports racing expert Tapecorp and the Accent Group (shoe sales). They did not return a single penny despite the record profit. The home appliance brand, Harvey Norman, has agreed to increase its profits by 80% in the 2020-2021 financial year, after strong public pressure, to make up one-third of the proceeds from employee (7 13.7 million to 7 3.7 million). Total million).

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“Study of Conscience”

There are big names in global luxury, namely Gucci, Richmond, Coach, Bulgaria, Armani and Louis Vuitton (LVMH Group, owner of “Echoes”), companies that have seen their profits increase since the onset of the epidemic.

In the wake of the scandal, Interior Minister Karen Andrews on Monday called for a refund as opposition parties demanded the release of a complete list of these companies. “These companies have a responsibility. If they are good, they should do self-examination,” he said in an interview with ABC Radio Gold Coast.

The ruling coalition, which falsely denounces the “budget irresponsibility” of the Labor opposition, does not need this new risk ahead of the federal election this May, which could be more complicated.

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About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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