Prime Minister Kevin Rudd has side-stepped questions on whether or not he supports a $1 million taxpayer-funded bonus paid to an Australia Post executive.
The managing director of the Government-owned monopoly, Graeme John, earned $2.9 million in 2007-08, the same year his organisation raised the cost of the average postage stamp by 10% to 55 cents.
Mr Rudd told the National Press Club earlier this month corporate excess and executive greed helped trigger the global financial crisis.
Today he said his comments were specifically aimed at executives in the finance sector who engaged in risky behaviour.
The prime minister repeatedly dodged questions about his view on Mr John's bonus, saying he supported the board's right to make its own decisions.
"I think Australia Post, from what I have seen, has performed well over many, many years and performed responsibly over many, many years," he told Fairfax Radio Network.
"That's in stark contrast to what I think we have seen with many merchant banks, other financial institutions around the world where these exorbitant packages of hundreds of millions of dollars are linked to very risky behaviour, which then infect the rest of the economy for the rest of us."
Mr Rudd said Mr John's appointment was a decision made by Australia Post's independent board.
"I support the independence of the board to make its decision," he said.
AAP
