Govt extends business debt hibernation

Tue, 01 Dec 2020

The government has extended the business debt hibernation scheme for another 10 months, saying “businesses need continued support to keep trading.”The scheme, which allows businesses that meet criteria to put debt on hold for up to seven months, was established as part of the government's response to the covid-19 pandemic to keep businesses trading.It will now be extended until Oct. 31.Finance Minister Grant Robertson said debt hibernation is not designed to prevent companies with no realistic prospect of continuing to...

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