Harvey Norman records over a billion in profits whilst pushing pay cuts for working people

Media Release - August 31, 2023

Harvey Norman will be sitting comfortably today after posting pre-tax profits of $1.13 billion for the 2023 financial year, an increase from $688.60 million in 2019.

The announcement comes as Harvey Norman boss Gerry Harvey pushed for a cut to the minimum wage in real terms in this year’s Annual Wage Review.

This follows on from Harvey’s comments in 2020, where he called the global pandemic an “opportunity,” with his corporation doubling its profits while refusing to pay back JobKeeper.

At a time where corporations are forcing working people to pay higher prices and cut back on providing for their families, Gerry Harvey and his corporate executives continue to reap in massive profits.

The announcement of Harvey Norman’s billion-dollar profits reinforces the ACTU’s call for working people to enjoy a fair share of the profits they generate and the need for a price-gouging inquiry.

Quotes attributable to ACTU Assistant Secretary Joseph Mitchell:

“Gerry Harvey and his corporate lobbyists called for pay cuts before, during, and after the pandemic. They gloat to their shareholders about raking in over a billion dollars in profit, meanwhile they tell working people they don’t deserve better.

Corporations like Harvey Norman are contributing to the financial stress of working people.

This profit reporting season has shown remarkable profit grown across providers of essential goods and services. This is another result which highlights the need for a close examination of market power, concentration and corporate practices through the Price Gouging Inquiry led by Allan Fels.”

The ACTU Network

Australian Unions

Whether you want to join a union, take action in campaigns, or make the most of the benefits of being a union member, Australian Unions is the place to go for information and resources.
Visit Australian Unions

Mind Your Head

We’re taking action to protect workplace mental health.
Visit Mind Your Head


Your rights at work for students and for people entering the workforce for the first time.
Visit Worksite


Information and resources for health and safety representatives and workers about how to speak up at work for health and safety.
Visit OHS

Union Aid Abroad

Union Aid Abroad-APHEDA is the overseas aid and development agency of the ACTU. Our work aims to build self-reliance through support to educational and training projects for workers and their organisations in the developing world.
Visit Union Aid Abroad

ACTU National Union Directory

Find who you are looking for from the who’s who of the union movement.
Visit the ACTU National Union Dictionary
Australian Council of Trade Unions

Representing Australian workers and their families.