$3.5B a year income insurance proposal unveiled

Pattrick Smellie
Wed, 02 Feb 2022

$3.5B a year income insurance proposal unveiled
The new scheme would help cushion the workforce and government finances in times of economic hardship. (Image: Deposit Photos)
Pattrick Smellie
Wed, 02 Feb 2022
Workers and their employees will each pay 1.39 cents in the dollar in new annual levies to fund a proposed national income insurance scheme that will buffer workers who lose their jobs through restructuring, recessions or personal illness.A public consultation document on the proposed scheme was published today, based on the work of a tri-partite group involving the government, Business New Zealand, and the NZ Council of Trade Unions.It would be administered by the Accident Compensation Corp and funded by a levy system similar to the way the no...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Property FREE
Money Answers: how much mortgage can I actually afford?
Frances Cook | Sat, 25 Jun 2022

This week, readers ask how they should decide as a family what they can afford in terms of buying a house – and just because you can, should you?

The eyes have it
The Economist | Sat, 25 Jun 2022

Short-sightedness used to be rare. Now it's growing across the globe. Tim Cross, The Economist's technology editor, investigates its rapid rise.

On the Money
On the Money: Don Braid, Fletcher, Steve Newman and more
Victoria Young | Sat, 25 Jun 2022

OTM this week: A bit of matchy-matchy for Don Braid, the reopening of Parliament's lawns, Eroad, Fletcher and more. 

Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.