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

Mon, 17 Aug 2020

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...

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