Ownership Matters raises alarm about the way in which Mike Cannon-Brookes has assembled his 11.3 per cent stake, but the billionaire insists there is ‘no financial wizardry’.
War by proxy: Frydenbergâs reforms raise shareholder alarms
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Credit:Alex Ellinghausen
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When Treasurer Josh Frydenberg delivers his federal budget speech next Tuesday evening, he will almost certainly herald the success of the governmentâs JobKeeper program, which bolstered the economy throughout the pandemic.
The program, like others implemented in the United Kingdom and New Zealand, was an economic lifeline designed to keep businesses afloat and nearly 3.5 million people employed. It also had a fundamental flaw. The government couldnât force companies that recovered faster than expected and even their grew profits, to pay the subsidy back.