CIMIC must hand back JobKeeper after massive profits

MULTINATIONAL construction giant CIMIC Group must hand back the $20 million it took in JobKeeper in light of revelations the company made $620 million in profits and delivered more than $468 million to investors through share buybacks and dividends, alleged the CFMEU.

"JobKeeper was designed to keep Australian workers employed through the pandemic, not to underwrite multinational company profits and deliver huge returns to investors," said Dave Noonan CFMEU national construction secretary.

"CIMIC needs to do the right thing and repay the subsidy it took through JobKeeper at the start of the pandemic," he said.

“If this massive multinational company is unwilling to pay up voluntarily Scott Morrison should use the considerable regulatory powers available to him to compel CIMIC to hand the money back.

"Australian workers could rightly feel betrayed when they see Scott Morrison trying to cut their wages through his IR Omnibus Bill while handing out millions in subsidies to highly profitable businesses.

"The Covid crisis hit many Australian workers hard. The hundreds of thousands of people who lost jobs or had their hours reduced will not simply swallow revelations that their pain helped deliver massive profits to multinational companies like CIMIC.

"Scott Morrison needs to show whether he is on the side of Australian workers or the big business lobbyists and corporate donors who too often dictate his government’s policies."

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