Primary sector exports and jobs are up again, demonstrating the sector’s underlying strength amid the COVID-19 global pandemic and US-China trade war, and supporting New Zealand’s economic recovery.
Today’s better-than-forecast GDP figures show the expected impact of the decision to act quickly to protect New Zealanders from the global COVID-19 pandemic.
The Pre-election Economic and Fiscal Update released today shows that the near-term economic recovery has been stronger than the Treasury and many economists predicted at the May Budget, as the economy bounced back strongly out of lockdown.
Economic activity across the Auckland region and the country bounced back to levels experienced under Alert Level 1 following Auckland’s move out of Alert Level 3, analysis in the Treasury’s latest Weekly Economic Update shows.
The Government’s support for businesses and jobs continues to roll out at pace, with payments of the new wage subsidy already in nearly 50,000 business bank accounts.
The Government’s strong focus on keeping the balance between responding to COVID-19 and careful economic management is highlighted by Budget documents released today, Finance Minister Grant Robertson says.
More than 200 construction jobs will be secured in Taranaki through Government funding for a school expansion project, the Associate Minister of Finance, James Shaw said today.
Eligible businesses can apply for a two-week wage subsidy of up to $1,171.60 per worker from today to help cover wages as part of the Government’s plan to protect jobs and support the economy.
Changes to simplify and expand the Business Finance Guarantee Scheme will allow banks to make more loans available under the Government’s 80% guarantee.
Workers whose jobs may be affected by the re-emergence of COVID-19 in Auckland will be supported by a new wage subsidy scheme and a simplified leave scheme.
The Government will invest up to $200 million in a large construction project in central Auckland, that will create up to 750 jobs and provide confidence to the sector, Finance Minister Grant Robertson and Infrastructure Minister Shane Jones announced today.
The Government is taking action to support businesses and protect jobs following today’s decision to extend the existing public health measures across the country to stamp out COVID-19.
Today’s unemployment data shows the Government’s plan to protect jobs and cushion the blow for businesses and households against the economic impact of COVID-19 was the right decision, Finance Minister Grant Robertson says.
The Budget 2020 legislation approved in Parliament last night puts in place the Government’s comprehensive economic rebuild and recovery plan to deal with the impacts of COVID-19, Finance Minister Grant Robertson says
The Government is taking further steps to strengthen New Zealand’s financial system through reforms to the Reserve Bank Act to improve the Bank’s governance and accountability, Finance Minister Grant Robertson says.
Almost 300 construction jobs will be created with work getting underway on the restoration and strengthening of the Metropolitan Cathedral of the Sacred Heart in Wellington.
The Government has today announced investments from the Provincial Growth Fund and COVID Response and Recovery Fund towards roading and flood protection projects after flooding events in the Far North.