The NZ government is supporting the businesses as well as jobs with the new wage subsidy provided to nearly 50,000 business bank accounts.
The government has acknowledged that the latest restrictions will have an impact on companies. Hence, they are providing early support to businesses and households through payments into bank accounts to boost cashflow, manage costs and pay wages.
New Zealand has been at Alert Levels 3 and 4 for seven weeks, with Auckland at just over nine weeks. In total, the wage subsidies and leave support schemes have paid out more than NZD 13.6 billion to companies.