Minister of Finance confirms potential cash injections to keep businesses afloat

coronavirus 09/04/2020

Williams asks Robertson for his thoughts on the Business Confidence Survey results and moving from the wage subsidy to a more targeted approach.

The survey results portrayed that a third of New Zealand businesses don't expect to survive this crisis.

Finance Minister Grant Robertson shares his thoughts on this:

"I'd like to think that given the good progress that we're making in terms of reducing new infections, those numbers would improve."

I think our businesses our more resilient than that and we're certainly going to keep working with them to help them get through it and reduce that number significantly.

As for moving away from the current wage subsidy towards a more targeted approach, such as potential cash injections, Robertson continues:

For a number of businesses wages are only a part of their cost structures, but so are rent, so are the costs they have on debt servicing, so are the costs on the products they need to buy.

"We are working through that on a granular level now, to be able to say what does the next stage of this look like as we emerge out of Level 4."

There is very active work going on with those issues.

Watch the video above to catch the full interview.