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Business support extended

Friday 31 December 2021 | Written by CI News Staff | Published in Economy, National

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Business support extended
PHOTO: GETTY IMAGES

Prime Minister Mark Brown yesterday announced that the wage subsidy and sole trader grants will continue until the end of February, to allow businesses to build up after the border opening on January 13, 2022.

“The border opening on January 13th provides hope for our businesses and our economy, but we recognise that it may take some time for visitors to come back in big numbers,” said Brown, who is also the country’s Minister of Finance.

“This extension of support to the end of February reflects the feedback that the private sector has given government that an additional month of assistance is important in our recovery.”

This extension of support provides greater certainty for local tourism businesses and allows them to restock and prepare for coming visitors with some more certainty, Prime Minister Brown said.

“The support provided since the border closed in August will total over $30 million, and this investment has been crucial in keeping our private sector afloat.

“This extension helps support that investment, and helps to ensure opportunities for our people remaining here.

“Our economic modelling shows reasons to be optimistic about our future, but in the short-term that future relies strongly on having visitors safely back to our shores.”

Brown the return of tourism “is key to maintaining debt at manageable levels and not over-burdening our children in the future”.

Announcing the extension of wage subsidy and sole trader grants on the eve of the new year, the Prime Minister hoped that this would provide some

increased confidence for businesses, and expressed confidence for the year ahead.