MasterChef star George Calombaris has launched a spray at the Gillard government's Fair Work Act, claiming that public holiday and weekend penalty rates have the potential to force his new restaurant venture to the wall.

In an exclusive interview for The Power Index, the straight-talking multimillionaire said that waiters at his new South Yarra pasta den Mama Baba would have to be paid "$40 an hour on Sundays", "and it's not like they've had to go to uni for 15 years".