Focus on jobs and infrastructure good for economy

14 May 2020

BusinessNZ has welcomed the focus on jobs in today’s Budget.

BusinessNZ Chief Executive Kirk Hope said the $3.2 billion extension to the Wage Subsidy Scheme announced today, for a further 8 weeks, was an appropriate use of Budget funding.

“Supporting the wages of employees has been a successful strategy in the Government’s Covid response so far, and it is good to see this strategy continue.

“Expanding the subsidy to include R&D start-ups – pre-revenue R&D start-up firms that are recognised by Callaghan Innovation – is also a smart way of boosting new and innovative firms that will aid New Zealand’s growth in the medium term.

“Major funding of $3 billion for infrastructure, in addition to existing Provincial Growth Fund infrastructure investments, is also well-placed.  Business looks forward to recommendations from the Infrastructure Industry Reference Group on investments in different regions across the country.”

Kirk Hope said investing in workers and infrastructure was a sound approach to supporting economic recovery.