House debates

Thursday, 29 October 2020

Questions without Notice

Premier Investments

2:25 pm

Photo of Stephen JonesStephen Jones (Whitlam, Australian Labor Party, Shadow Assistant Treasurer) Share this | | Hansard source

My question is to the Treasurer: Treasurer, is it acceptable for Premier Investments to pay its chief executive, Mark McInnes, $2.5 million while receiving wage subsidies paid for by the taxpayer?

2:26 pm

Photo of Josh FrydenbergJosh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | | Hansard source

As the honourable member will know, the same question was put to the Governor of the Reserve Bank, effectively, when he was at a parliamentary hearing recently. He pointed out that we want our companies to be profitable. But JobKeeper had a specific test, and the JobKeeper test was about turnover reductions. It was about turnover reductions, and businesses across Australia have been benefitting from JobKeeper and keeping people employed. When it comes to whether or not businesses have complied with that test, they are matters for the ATO. They will be followed up. But, when it comes to JobKeeper, it's been a very successful program, supporting more than 3½ million Australian workers.

Dr Chalmers interjecting

Photo of Tony SmithTony Smith (Speaker) Share this | | Hansard source

The member for Rankin is warned!