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Economy

Wage subsidy data reveals scale of tourism hurt

Andy Fyers
Wed, 01 Dec 2021

Wage subsidy data reveals scale of tourism hurt
Businesses with 'bungy' in their name had 44% fewer employees in August 2021 compared to March 2020. (Image: Deposit Photos)
Andy Fyers
Wed, 01 Dec 2021
As New Zealand entered its first covid-19 lockdown in March 2020, businesses scrambled to use the hastily arranged wage subsidy scheme as they feared an economic meltdown. Altogether they claimed $10.9 billion in the first 12-week iteration of the scheme – and that doesn't include the thousands of businesses that later repaid it.Fast forward to August 2021 and the start of a new outbreak, this one as a result of the more contagious delta variant.Having weathered the initial outbreak many times better than even the most optimistic...

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