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The profitable Wilson Parking is the latest corporate welfare bludger to steal from the taxpayers, claiming $3.1 million in the wage subsidy despite increasing their profit by 43%:
Car-park business Wilson Parking, which is chaired by billionaire Hong Kong property developer Raymond Kwok, received $3.1 million in government wage subsidies in the past year at the same time as profit increased 43 per cent to $16.7m.
New Zealand’s largest private parking operator, which is ultimately owned by the wealthy Kwok family, received $3.1m under the Government’s wage subsidy, wage subsidy extension and essential worker leave support schemes between March 23 and June 30, the company said in its annual accounts for the year ended on June 30.
The company returned $105,444, and recognised $1.9m as employee costs, with the remaining $1m classified as a trade payable, indicating it was expected to be paid out within a year. The company said it didn’t benefit directly from any forms of government assistance.
Stuff
Despite the Chinese plague these guys have increased their profitability. There is no way they should have qualified for the wage subsidy.
It just shows how lax the rules were, and how pathetic enforcement of them was as well.
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