Budget 2022

Budget 2022: top five announcements for business

Pattrick Smellie
Thu, 19 May 2022

Budget 2022: top five announcements for business
One contributor to weaker activity is forecast lower residential house building. (Image: BusinessDesk)
Pattrick Smellie
Thu, 19 May 2022
       1. SME packageThe government will contribute $100 million to a new Business Growth Fund that it intends would be operated by private sector banks to provide equity rather than loans to small businesses, with the fund only ever being a minority shareholder.This is intended to overcome difficulties the government says small and medium-sized enterprises (SMEs) have in gaining funding from private banks.Consultations with the Reserve Bank and private banks are underway and the government is confident private banks will ba...

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