Andrew Leigh

E&OE TRANSCRIPT
RADIO INTERVIEW
ABC CANBERRA BREAKFAST
WEDNESDAY, 9 SEPTEMBER 2020

SUBJECTS: R U OK Day; Parliamentary Friends of Suicide Prevention.

LISH FEJER, HOST: Dr Andrew Leigh is the federal Member for Fenner, and Shadow Assistant Minister for Treasury and Charities. He is also co-chair of The Parliamentary Friends of Suicide Prevention, which is the crux of all of this, in checking in ‘are you okay’. Good morning, Dr Leigh.

ANDREW LEIGH, SHADOW ASSISTANT MINISTER FOR TREASURY AND CHARITIES: Good morning, Lish. That was a beautiful summary of the issue that you gave earlier. It's a real challenge for our community right now, isn’t it?

FEJER: It really is, and it's only going to get more challenging as certain things are wound back, as the full extent of COVID-19 comes to the fore. What is the Parliamentary Friends of Suicide Prevention? What does this group do? 

LEIGH: It's about raising the profile of the issue of suicide prevention and mental health in Australia, co-chaired with Julian Leeser, the federal Member for Berowra and a good mate of mine. He’s somebody who has been working for a long time on this issue, and he like me has had his life touched by the issue. I don't think people realise that suicide takes twice as many lives every year as the road toll. An average of eight Australians every day die by suicide, and it's a particular issue among LGBTI+ communities, rural communities, Indigenous communities. So we need to do more to bring that toll down.

E&OE TRANSCRIPT
RADIO INTERVIEW
ABC MELBOURNE DRIVE
TUESDAY, 8 SEPTEMBER 2020

SUBJECT: China; JobKeeper payments; holding the Morrison Government to account; aged care.

RAF EPSTEIN, HOST: The federal government says it has spent an extra $15 billion widening the criteria for those who are eligible for JobKeeper, and they widened those criteria because of the situation in Victoria. Labor is unimpressed. Dr Andrew Leigh joins us. He's the Shadow Assistant Minister for Treasury, one of the MPs in the city, the capital, Canberra, and part of Anthony Albanese’s team. Andrew Leigh, good afternoon. 

ANDREW LEIGH, SHADOW ASSISTANT MINISTER FOR TREASURY AND CHARITIES: Good afternoon, Raf. Great to be with you.

EPSTEIN: Just on the journalists in China, do you think China's singling Australia out?

LEIGH: It certainly feels that way, and I guess we need to remember that the relationship is strongest when there's frank media on both sides. That was something that the deputy ambassador emphasised at the National Press Club when he spoke recently, and I hope that underlies China's approach.

E&OE TRANSCRIPT
RADIO INTERVIEW
ABC NEWS RADIO
FRIDAY, 4 SEPTEMBER 2020

SUBJECTS: Economics Committee Hearing with the Major Banks; JobKeeper as DividendKeeper; International Day of Charity.

ANDREW LEIGH, SHADOW ASSISTANT MINISTER FOR TREASURY AND CHARITIES: I think it’s going to important to delve into how the banks have responded to the crisis, to find out why the loan facility provided by the government hasn't been accompanied by a surge in small business lending. We've seen big businesses taking out more loans, but small business lending has contracted 8 per cent. So I'll be keen to explore that some of the big banks.

GLEN BARTHOLOMEW, HOST: It's been estimated that bank loans have been deferred for more than 700,000 mortgages and businesses, adding up to around $260 billion. Now, total equity in banks is estimated at only about $250 billion. The big four budgeted just $3.7 billion for impaired loan write offs in the last financial year. That's been increased a little now. Is there a reckoning coming, given the amnesty for businesses trading while insolvent is about to expire? Are defaults likely?

LEIGH: That's certainly something on which I get very mixed messages speaking to people in the industry. Whether there's likely to be a surge of insolvencies or not at the beginning of October is up in the air, and obviously a crucial issue for the banks. One of the other issues for householders is what's going to happen when repayments recommence, and often at a higher rate. For people who've had their interest capitalised into their payments, they may now find themselves facing higher monthly repayments than they did last year. So that could place a significant strain on households, particularly people where there's been a job lost.

CHARITIES DWARF MINING AND AGRICULTURE IN OUR ECONOMY, BUT MANY FACE RUIN

The Sydney Morning Herald, 4 September 2020

The charity sector is 8 percent of the economy, 10 percent of the workforce, and mobilises 3 million volunteers. It dwarfs agriculture, mining or manufacturing.

Saturday is International Day of Charity, a day chosen because it marks the passing of Mother Teresa, whose life was dedicated to serving the poor and homeless. It’s a chance to honour Australia’s more than 50,000 charities – but also to recognise that many are doing it tough.

Since COVID hit, two-thirds of volunteers have cut back their hours. Donations are expected to fall 7 percent this year, and a whopping 12 percent next year.

Yet while the supply of resources has plummeted, the demand for help has skyrocketed.

E&OE TRANSCRIPT
RADIO INTERVIEW
ABC ADELAIDE MORNINGS
WEDNESDAY, 2 SEPTEMBER 2020

SUBJECT: JobKeeper payments.

DAVID BEVAN, HOST: Andrew Leigh is making headlines. He’s the Labor MP for the ACT seat of Fenner. He's making headlines because he had a good look at the JobKeeper scheme, and he says ‘you know what? I'm not happy with where some of this money is ending up’. Andrew Leigh, good morning to you.

ANDREW LEIGH, SHADOW ASSISTANT MINISTER FOR TREASURY AND CHARITIES: Good morning, David. Great to be with you.

BEVAN: What's the problem?

LEIGH: Most firms did absolutely the right thing when the downturn hit. They received government subsidies if they’d had a big drop in revenue, and they used them to support jobs. But there's a small number of firms that appear to have done the wrong thing - paying out substantial bonuses to executives, paying out significant dividends, which in some cases have ended up lining the pockets of billionaires. The thing about JobKeeper is it was designed to support the jobs of battlers, not to benefit billionaires. It's there in order to reduce inequality, but some firms seem to be using it to increase inequality.

E&OE TRANSCRIPT
RADIO INTERVIEW
6PR PERTH LIVE
TUESDAY, 1 SEPTEMBER 2020
 
SUBJECT: JobKeeper payments.

ANDREW LEIGH, SHADOW ASSISTANT MINISTER FOR TREASURY AND CHARITIES: Good afternoon, Olly. Great to be with you and your listeners.

OLIVER PETERSON, HOST: You have named and shamed some businesses which appear to be rorting the JobKeeper scheme.

LEIGH: JobKeeper was designed in order to keep battlers in work, not keep billionaires in champagne. What I've been concerned about is the small number of firms that seem to be using taxpayer subsidies in order to pad profits, and to pay executive salaries and dividends.

E&OE TRANSCRIPT

TV INTERVIEW

THE PROJECT

TUESDAY, 1 SEPTEMBER 2020

Subject: JobKeeper.

CARRIE BICKMORE: Shadow Assistant Minister for Treasury Andrew Leigh isn't a fan of JobKeeper as it is, and he joins us now. Andrew, executive salaries are quite complex. A lot of them earn the bulk of their pay through bonuses. It is a bit simplistic to say that they should just go without?

ANDREW LEIGH, SHADOW ASSISTANT MINISTER FOR TREASURY AND CHARITIES: JobKeeper was designed as a program to keep battlers in work, not to top up the salaries of millionaires and billionaires. Firms ought to recognise they have a social obligation to spend this money on looking after their workforce.

BENJAMIN LAW: That said, Andrew, if a company has landed themselves in serious trouble and has since turned that around, shouldn't they be entitled to enjoy the benefits of that success?

LEIGH: This is taxpayer money we’re talking about. It was given to firms for one specific purpose: to make sure that the unemployment rate didn't skyrocket as much as it would otherwise have done. I don't remember any member of parliament standing up when we were debating JobKeeper and saying, ‘this will be great because it will be used to pad profits and pay highly paid CEOs even more.' Indeed, you’ve seen a New Zealand company Mainfreight saying, ‘we don't deserve this money‘, and giving it back to the New Zealand taxpayer. If only we had a few Aussie firms that took that approach.

NOBODY LIKES RUNNING DEFICITS, BUT RIGHT NOW CREATING JOBS IS PRIORITY NUMBER ONE

The Canberra Times, 2 September 2020

‘The first duty of all Governments in the present period of stress is to relieve, as far as possible, the hardships and needs of persons who are willing to work but cannot find employment.’

The year was 1930, and the Canberra Times editorial reflected the anguish of the Great Depression. Around the world, unemployment spiked, and millions of lives were blighted by joblessness.

Nine decades on, the world is suffering the worst downturn since the Great Depression. Yet economic policymakers have a considerable advantage over their predecessors. It wasn’t until 1936 that John Maynard Keynes published The General Theory of Employment, Interest and Money, advising governments to spend in order to support demand. Keynesian economics did not become mainstream until decades later.

E&OE TRANSCRIPT
RADIO INTERVIEW
ABC NORTH QUEENSLAND DRIVE
TUESDAY, 1 SEPTEMBER 2020

SUBJECT: JobKeeper payments.

ANDREW LEIGH, SHADOW ASSISTANT MINISTER FOR TREASURY AND CHARITIES: JobKeeper was designed for battlers, not billionaires. It was designed to keep people in work during the biggest economic downturn since the Great Depression. Wage subsidy schemes like this have worked well around the world, and most firms have done the right thing. But there's a small number of firms who have taken the taxpayer handouts and used them to fund bonuses for executives. I think that fundamentally breaks the social contract between firms and the rest of the community. 

ADAM STEPHEN, HOST: How did you work out that some of the companies that had taken JobKeeper subsidies, wage subsidies for their workforce, had subsequently either paid out executive bonuses or given dividends to shareholders? 

LEIGH: Yeah, it's interesting question. If you're an unlisted company, no one knows whether or not you’re getting JobKeeper. But if you're a listed firm, then ASIC’s asked people to disclose to the share market the amount of JobKeeper they're receiving. So as we're now in the annual reporting season, a range of firms are reporting that they received taxpayer handouts and that they’ve paid executive bonuses.

E&OE TRANSCRIPT
RADIO INTERVIEW
5AA MORNINGS
TUESDAY, 1 SEPTEMBER 2020

SUBJECTS: JobKeeper payments; unemployment; Scott Morrison playing ‘whack a premier’.

LEON BYNER, HOST: This is a story that really needed to be out there because, as you know, the recession - and we've got one – has hit a lot of people hard. But a scheme that was designed to reduce inequality and help people out, according to my next guest, has been misused by a small number of firms who are channelling executive bonuses. Now, I would have thought that this ought to be illegal, but they've named - I'll give you some examples. Star casino. They got $64 million in JobKeeper and gave their CEO an equity bonus of $800,000. SeaLink received $8 million in JobKeeper, and gave the CEO a $500,000 bonus. Now look, there's a whole raft of companies that have done this. So let's talk to a bloke who is an expert in economics, but he speaks plain English, which is always a good thing. The Shadow Assistant Minister for Treasury and Charities, Dr Andrew Leigh. Andrew, good morning. How can this happen?

ANDREW LEIGH, SHADOW ASSISTANT MINISTER FOR TREASURY AND CHARITIES: G’day, Leon. Great to be with you. Saying that I think economics and talk English is the kindest compliment!

This is one of those instances in which firms have done the wrong thing. Not most firms, but a few firms. The fact is, if you're putting your hand out for taxpayer support, which is absolutely the right the right thing to do in order to keep people in work, then you can’t then turn around and use that money to subsidise people in the executive suites. People already on seven figure salaries shouldn't have their salaries topped up using taxpayer handouts. It's as simple as that.