Farmer confidence hits lowest levels since 2009 | NZ Market Update

  • Jul 25, 2020 NZST
  • Team Kalkine

The latest figures from the Ministry of Social Development show that $1.9b of that has been paid under the extension to the scheme, which came into effect in early June. More than 1.7 million jobs are being supported by the scheme, which comes to an end in September. Nearly 10,500 recipients of the wage subsidy have paid the money back, totaling $323.6m. Meanwhile, there are now more than 18,500 people receiving the government's special Covid-19 income relief payment. The 12-week payment is for people who have lost their jobs since March, because of the pandemic. It pays $490 a week for people who are out of fulltime work, and $250 a week for those who have lost part-time jobs. Close to 17,000 of the people receiving the payment are getting the fulltime rate.

Farmer confidence has slumped to its lowest levels since 2009, Federated Farmers says. Responses from 1725 farmers showed current economic conditions were rated as bad by nearly a third of farmers. Federated Farmers president Andrew Hoggard said: “It’s pretty grim looking forward as well”. The survey report by Research First showed farmers’ three biggest concerns were the economic situation (15.6 per cent), regulation and compliance costs (15.3 per cent), and farmgate and commodity prices (11.1 per cent). More than half of farmers surveyed expected economic conditions to get worse over the next year, an increase of 20 per cent from six months ago.

There are no new Covid-19 cases in New Zealand today, the Ministry of Health confirmed. There remains 21 active cases of the virus in the country, all of which are in managed isolation or quarantine. Since the pandemic began, New Zealand has had 1206 confimed cases of the coronavirus. It's been 85 days since the last case of community transmission. There is currently no one in New Zealand receiving hospital-level care for Covid-19. Yesterday, 2307 tests for Covid-19 were carried out, with the total number of tests completed in New Zealand to date now 453,923.

#nznews #covid19 #NewZealand

 


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