Politics
Details on the financial support for businesses and individuals affected by current alert level restrictions are being outlined by Finance Minister Grant Robertson.
Watch the minister’s announcement expected to start about 3pm:
Latest from wage subsidy update:
- Cabinet has agreed to the details of a new wage subsidy scheme, Robertson says. It is for two weeks of support and at the same rate as the existing extension, with much of the same criteria.
- The cost of the scheme is estimated to be $510 million.
- A firm must have had or predictive 40 percent drop in revenue of a consecutive 14 days to be eligible.
- A firm must have had or predictive 40 percent drop in revenue of a consecutive 14 days to be eligible.
- The leave support scheme has some changes, too.
- That’s for people who have to self-isolate. The 30 percent revenue drop requirement is being dropped today.
- Officials will undertake further work on the leave scheme to ensure its adaptability.
- The government is still working on creating jobs, too, Robertson says.
The wage subsidy scheme has been extended for a third time while the country is in higher alert levels.
Level 3 restrictions will continue in Auckland, and level 2 restrictions across the rest of New Zealand, for a further 12 days, ending at 11.59pm on 26 August.
But businesses around the country are calling for a much longer extension to the subsidy than the government is offering. It’s being anxiously anticipated by those industries which are being hit hardest by another lockdown, such as hospitality and tourism.