N.Z. Announces New Measures to Combat Economic Impact of Virus

New Zealand Finance Minister Grant Robertson comments at post-cabinet press conference.

• Says cabinet approved development of business continuity package to help support economy through disruption caused by coronavirus
• Package includes:
  • targeted wage subsidy scheme for workers in most adversely affected sectors
  • training and redeployment options for affected employees
  • working with banks on potential for future working capital support for companies that face temporary credit constraints
• Treasury and Inland Revenue will continue developing tax policy options to reduce impact on businesses
• Details of package will be announced next week
• Cabinet has also directed officials to work on a package of longer ...