Andrew Leigh (Fenner, Australian Labor Party, Shadow Assistant Minister for Treasury) Share this | Link to this | Hansard source

My question is to the Treasurer. Why is the Morrison-Joyce government not asking businesses to repay the $13 billion in JobKeeper payments they pocketed while their revenue rose but sending threatening letters to Sydney and Melbourne families in lockdown demanding they pay back historic childcare subsidies? Why are the Treasurer's priorities so wrong?

Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Link to this | Hansard source

The member for Fenner wants to make lawbreakers out of businesses that received JobKeeper. When businesses received JobKeeper, they did so in accordance with the law—namely, there was an anticipated decline in their turnover. The member for Fenner doesn't ask me about Labour Association Services or the $22 million that apparently went to unions and other associated entities. The reality is that JobKeeper was a remarkable program. They are not my words; they are the words of the governor of the Reserve Bank. Indeed, they say the program saved 700,000-plus jobs and it's been a key part of our economic recovery.

Let me remind the honourable members opposite what the Australian economy was looking like when JobKeeper was announced. The unemployment rate, Treasury thought, could reach as high as 15 per cent; we could see up to two million Australians unemployed. We were literally standing at the edge of the economic abyss. We saw JobKeeper come in and, immediately, it stemmed the tide of job losses and we saw nine consecutive weeks of increases in consumer business confidence. We saw increases in confidence as a result of JobKeeper and we have seen the unemployment rate now get down to a 12-year low of 4.6 per cent—compared to when Labor was last in office, when the unemployment rate was 5.7 per cent. JobKeeper has been a key part of our economic recovery. According to Treasury, in the review they undertook, it was well targeted. In the month of April we saw an average decline of 37 per cent in JobKeeper businesses. And we know that small businesses right across the country have relied on JobKeeper to stay in business.

Those opposite are seeking to attack those small businesses that received JobKeeper; those opposite are now seeking to have their important, confidential, private taxpayer details revealed publicly. And we know what the industry groups have said about that. I repeat to the House that the Australian Hotels Association said Labor's tactic is a dangerous political stunt. The Australian Industry Group said Labor's tactic is misguided and a dangerous precedent. The Australian Chamber of Commerce has called Labor's tactic a desperate attempt to smear. And COSBOA has said of Labor's tactic that it is pursued for pure political gain. You cannot trust the Labor Party. Small business— (Time expired)