Robertson rolls out historic $12.1b virus lifeline

Robertson rolls out historic $12.1b virus lifeline
Paul McBeth
Finance Minister Grant Robertson will pump in $12.1 billion to soften the impact of covid-19, the global pandemic that threatens to tip the world into a protracted recession.The package is the equivalent of 4 percent of the economy, and is a mix of wage subsidies, tax breaks, increased welfare support, and targeted spending in health and aviation, outstripping similar programmes in Australia, the UK and the US.“This is the rainy day we have been planning for,” Robertson told media.“We hope to save some jobs, but we won’t be able to save all job...

More Economy

Dire economy opens door for 50bps cut in October
Economy

Dire economy opens door for 50bps cut in October

The New Zealand economy contracted 0.9% in the June quarter. 

Economy contracts 0.9% in June quarter
Economy

Economy contracts 0.9% in June quarter

GDP has now fallen in 3 of the last 5 quarters.

Life insurance market shrinks
Finance Risky Business

Life insurance market shrinks

Foreign firms dominate as affordability, tax and access barriers stymie growth.

Seeking a faster, sharper ComCom
Economy

Seeking a faster, sharper ComCom

A ‘gold standard’ approach and siloed structure slow the ComCom down.