Govt won't dip into covid fund for $1.6b wage subsidy extension

Govt won't dip into covid fund for $1.6b wage subsidy extension
Paul McBeth
The government won’t need to tap the $14 billion contingency in its covid response and recovery fund to cover the wage subsidy extension. Finance Minister Grant Robertson today announced the details of the extension to help businesses through the latest covid-19 outbreak in South Auckland, that’s seen 58 confirmed cases. Firms will need to report or predict a revenue drop of at least 40 percent due to covid for any 14-day period with Aug. 12 and Sept. 10 from a year earlier to be eligible for the latest extension. The Treasury estimate...

More Finance

PGG Wrightson CEO: OCR hike would hurt rural sector confidence
Finance

PGG Wrightson CEO: OCR hike would hurt rural sector confidence

The company suspended its interim dividend, worrying about adding debt if rates go up.

Riley Kennedy 28 Feb 2024
ASB's Shortt: Move beyond 'investing to survive'
Finance

ASB's Shortt: Move beyond 'investing to survive'

The ASB CEO says businesses have been in 'investing to survive' mode.

Dileepa Fonseka 28 Feb 2024
John Key steps down as ANZ Bank NZ chair
Finance

John Key steps down as ANZ Bank NZ chair

John Key will retire from all ANZ boards on March 14. Key joined the ANZ NZ board in 2017 after stepping down as New Zealand’s prime minister. He became chair of the board in 2018 and then joined the ANZ Group board as a director.The board of ANZ Bank New Zealand has appointed Sc...

Staff reporters 27 Feb 2024
Why Fonterra Oceania makes sense
Finance

Why Fonterra Oceania makes sense

It’ll be made out of Fonterra Australia and Fonterra Brands NZ.

Riley Kennedy 23 Feb 2024