Treasury finds $27bn in JobKeeper paid to ineligible businesses
A report this week found that $27 billion of the $89 billion of JobKeeper subsidy went to business which didn’t qualify for the subsidy. Without a claw back measure legislated there is no mechanism to re-claim this money back from ineligible businesses, which has created a great deal of criticism of the government.
When compared to the New Zealand approach, where the government spent $12.35 billion on its JobKeeper equivalent, as much as $673 million – or 5.45% – has been voluntarily repaid. Comparatively, in Australia, where only $225 million of the $89.3 billion shelled out for JobKeeper has been repaid, the rate is far lower at just 0.25% of a percentage point.
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