Speaking in Parliament, Mr Leigh hit out at companies who had taken advantage of the stimulus scheme, which has been instrumental in helping millions of Australians through the COVID-19 crisis.
“Recessions hit the poor hardest, which is why Australia followed many countries around the world in implementing a wage subsidy scheme,” Mr Leigh said.
“But a scheme designed to reduce inequality is being misused by a small number of firms, who are channelling it to executive bonuses.”
The top offender, Accent Group, received $13 million in JobKeeper – and paid CEO Daniel Agostinelli a $1.2 million bonus. Star IDP Education received $4 million and gave CEO Andrew Barkla (who was Australia’s highest-paid CEO in 2019, taking home $37 million) a $600,000 bonus.
Star Casino received $64 million in JobKeeper and gave CEO Matt Bekier an equity bonus worth $800,000.
Mr Leigh also slammed companies who paid out hefty dividends to shareholders while receiving subsidies.
“Furniture firm Nick Scali received $4 million from Australian and New Zealand taxpayers,” Mr Leigh said.
“Its increased dividend will deliver $2 million to the Scali family.”
1300SMILES also received $2 million in JobKeeper while paying out $3 million to shareholders. Mr Leigh noted that managing director Daryl Homes owns two-thirds of the company and will receive around $2 million.
“As Ownership Matters’ Dean Paatsch puts it: ‘I don’t think it was ever the intention of the government to subsidise executive salaries’,” Mr Leigh said.
“If you’re getting taxpayer subsidies, the CEO should not be getting a bonus.”
