The economic recovery from COVID-19 continues to be reflected in the Government’s books, which are again better than expected. The Crown accounts for the eight months to the end of February 2021 showed both OBEGAL and the operating balance remain better than forecast in the Half Year Economic and Fiscal Update (HYEFU) released in December last […]readmore
Budget 2021 will be delivered on Thursday 20 May, Finance Minister Grant Robertson announced today. “My focus continues to be on making sure spending is targeted at the areas and people that need it the most. “We will manage the books carefully including ensuring we are getting value for money in all areas of Government […]readmore
Today’s GDP figures show the economy remains resilient and among the best in the world despite the impact of the COVID-19 pandemic, and reinforces the steps the government has taken to support the economy and secure the recovery, Grant Robertson said. GDP declined 1 percent in the last three months of 2020, following a 13.9 […]readmore
The Government has confirmed details of COVID-19 support for business and workers following the increased alert levels due to a resurgence of the virus over the weekend. Following two new community cases of COVID-19, Auckland moved to Alert Level 3 and the rest of New Zealand moved to Alert Level 2 on Sunday 28 February […]readmore
The Government changed the KiwiSaver rules in 2019 so people with life-shortening congenital conditions can withdraw their savings early · The four conditions guaranteed early access are – down syndrome, cerebral palsy, Huntington’s disease and fetal alcohol spectrum disorder · An alternative withdrawal process is also in place for those with other congenital life-shortening conditions “The Government […]readmore
The new Resurgence Support Payment passed by Parliament this week will be available to eligible businesses now that Auckland will be in Alert Level 2 until Monday. “Our careful management of the Government accounts means we have money aside for situations like this. We stand ready to share the burden with businesses when Alert Levels […]readmore
Legislation will be introduced under urgency today to set up a new Resurgence Support Payment for businesses affected by any resurgence of COVID-19. “Since the scheme was announced in December we have decided to make a change to the payment – reducing the time over which a revenue drop is assessed from 14 days to […]readmore
Prime Minister Jacinda Ardern and Minister for Social Development and Employment Carmel Sepuloni have today announced a significant expansion to the Government’s Flexi-wage initiative, which will see up to 40,000 New Zealanders supported into work. The changes significantly increase the average amount a business can access to hire a worker, and scale up the number of […]readmore
The Government’s decision to act quickly in response to the global COVID-19 pandemic has helped the economy recover faster than expected, Grant Robertson said. GDP rose 14 percent in the September quarter following a revised 11 percent fall in the June quarter. On an annual average basis GDP fell 2.2 percent in the year ended […]readmore
The Government’s decision to act quickly in response to the global COVID-19 pandemic has contributed to a better than expected economic recovery, Grant Robertson says. The Treasury today released its latest economic and fiscal forecasts in the 2020 Half Year Economic and Fiscal Update. While New Zealand’s economy contracted in 2020, it is forecast to […]readmore