The Minister of Finance has announced a business support package, alongside the Government’s announcement of New Zealand’s new Covid-19 Protection Framework.
Resurgence Support
The Resurgence Support payment amount is doubling and moving to fortnightly payments.
- After the next scheduled payment on the 29th of October Resurgence Support will move to fortnightly payments. The first of these will open on the 12th of November.
- For the payments starting on 12th of November the rate will be $3000 per eligible business and $800 per FTE, up to 50 FTEs. This will make the maximum fortnightly payment $43,000 (currently the maximum payment is $21,500).
- Other settings in place for the Resurgence Support will remain in place.
Business Boost support
A $60 million fund for business advice and mental health support in Auckland has also been announced.
- This will be delivered through the established Regional Business Partner Network with grants for advice now not requiring a matching contribution from the business.
- Businesses will be able to apply for up to $3,000 worth of advice and planning support, and then receive up to $4,000 to implement that advice.
- $10 million is being provided for mental health and wellbeing support to small businesses.
Wage subsidy
- The Wage Subsidy will continue to be available on the current criteria while areas of the country are still in Alert Level 3.
Support once new framework is in place:
Cabinet has made in-principle decisions on financial supports which will become available when the new framework takes effect. These supports will be confirmed in November. The financial support will target the most affected businesses, for when areas of the country are in RED.
The Minister of Finance has indicated that across the board support will not be provided for areas designated as ORANGE or GREEN, because at these levels businesses will be able to operate as normal, with some requiring vaccine certificates to do so.
Transition Grant
A transition grant will be made available to support particularly Auckland businesses when they move into the new framework. The grant will be based on similar criteria to the Resurgence Support Payment.