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Joe Aston

Josh Frydenberg still silent on $25b JobKeeper waste

It’s been more than a month now since 7.30 revealed the independent Parliamentary Budget Office’s analysis of Australian Taxation Office data showing the Morrison government paid $12.5 billion of JobKeeper in the scheme’s first 13 weeks to firms that didn’t experience the turnover declines they forecast in order to qualify for it.

Extrapolated to the full 26 weeks of JobKeeper 1.0, that’s an unbelievable $25 billion of taxpayers’ money misspent. Around $9 billion was paid to firms whose turnover not only failed to decline as forecast, but actually increased.

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Joe Aston is the founder of Rampart and the best-selling author of The Chairman’s Lounge: The inside story of how Qantas sold us out. From 2012 to 2023, Joe helmed The Australian Financial Review’s Rear Window column. Email Joe at hello@rampart.news

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    Original URL: https://www.afr.com/link/follow-20180101-p58lxf