JobKeeper was a ‘necessary scheme’ but many of it went to ‘firms with rising revenues’

Shadow Assistant Minister for Treasury Andrew Leigh says the problem with JobKeeper is many of it went to “firms with rising revenues”.

According to the Global Investment Bank UBS Australia could be heading into debt by 2024/25 of $2 trillion.

Mr Leigh is arguing $13 billion, according to an analysis by the Parliamentary Business Office, went to firms which increased their revenue and turnover.

“JobKeeper was a necessary scheme and it saved jobs, but the problem is…that too much of it went to firms with rising revenues; it was a good idea, badly implemented,” Mr Leigh told Sky News host Alan Jones.

“They (the government) haven’t asked for a penny back and the fact is that we’re not going to be demanding repayment, but the government should at least be asking the question of these firms as to whether they’ll do the right thing by their corporate social responsibility.

“Just because we don’t believe that money shouldn’t be wasted, doesn’t mean that we’re against the scheme.

“The Prime Minister has accused me of playing the politics of envy but this is the politics of frugality; we ought to be careful with the publics finances as we would be with our own money.”