A major international report on the economy has given the thumbs up to the Government’s strong financial position and ability to support families and invest in infrastructure to create jobs in the wake of COVID-19.
The Government is protecting the integrity of New Zealand businesses correctly accessing the wage subsidy by prioritising the audit process for businesses where complaints have been laid.
Economic scenarios released today back the Government’s decision to go hard and early in the fight against COVID-19 while putting significant measures in place to protect jobs and support businesses through the lockdown, Finance Minister Grant Robertson says.
The Government’s wage subsidy to protect jobs and keep workers and businesses connected during the lockdown has now supported over a million New Zealanders, with $6.6 billion already paid out.
The Government will be introducing legislation to make changes to the Companies Act to help companies facing insolvency due to COVID-19 to remain viable and keep New Zealanders in jobs.
New Zealand’s ability to go hard and go early in the fight against COVID-19 has been underpinned by strong Government finances and the growing economy heading into this global pandemic, Finance Minister Grant Robertson says.
Minister of Finance Grant Robertson has clarified that the changes to the wage subsidy scheme announced yesterday mean that employers should be passing on the full subsidy to workers, except in the case where the person’s normal income is less than the level of the subsidy.
The Government has made modifications to the wage subsidy scheme to ensure people don’t lose their jobs during the national lockdown.
As New Zealand unites to lock-down in the fight against COVID-19, the Finance Minister is urging all businesses and workers to stay connected over the next four weeks.
The Government, retail banks and the Reserve Bank are today announcing a major financial support package for home owners and businesses affected by the economic impacts of COVID-19.
The Government is announcing significant further support for the economy, workers and businesses as the country unites to prepare for Alert Level 4 in the fight against COVID-19.
The Government is backing the Reserve Bank’s latest action to support the economy by reducing longer-term interest rates, meaning lower costs for businesses and mortgage holders, and a lower currency to help our exporters.
Finance Minister Grant Robertson today outlined a $12.1 billion package to support New Zealanders and their jobs from the global impact of COVID-19.
Finance Minister Grant Robertson says the Reserve Bank’s independent decisions announced this morning are a welcome support for the economy, with reports already that banks are looking to pass the OCR cut on to customers.
Grant Robertson will be in Australia tomorrow for a scheduled visit to Canberra where he will meet with Australian political and business leaders.
Cabinet today approved the development of a Business Continuity Package to help support the economy through the disruption caused by COVID-19.