NZ Minister of Finance
@NZFinMin
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Official account of New Zealand's Minister of Finance. Authorised by Grant Robertson Parliament Buildings, Wellington. Tweets prepared by Minister's staff
Wellington City, New Zealand
Joined January 2018
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Great to talk w/
@SecYellen
this morning. We discussed cooperation on climate change, COVID economic recovery, international taxation and NZ's hosting of APEC. New Zealand looks forward to working with the US to deepen our economic ties and meet shared global challenges.
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Unemployment down to 4.9%.
The hard work of NZers and the Govt's decisive actions to keep people safe and connected to their jobs, and to support businesses and households through the COVID-19 pandemic has been reflected in today's positive numbers.
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ANZ says NZ is “back in business” with heavy traffic volumes up 10.2% in July from a year ago, highlighting the headstart we have on other countries with our recovery. Stats NZ today also reported card spending rose in July, with strength in hospitality
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Today's unemployment drop shows our plan to protect jobs is working.
We went hard and early and we've been able to get the economy back up and running sooner.
There are still tough times to come but we've got a plan to create jobs and keep NZ moving.
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This is a jobs Budget.
✔️ protecting jobs by extending the Wage Subsidy
✔️ creating jobs by building 8000 more state homes
✔️ creating thousands of new environmental jobs
✔️ training for jobs with free vocational training
✔️ and more (inc. school lunches for 200,000 more kids!)
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We are supporting small firms and sole traders to get through the initial shock from COVID19 and into recovery. The Govt's Small Business Cashflow Loan Scheme will provide loans of up to $100,000 to impacted small firms, with the first year interest free
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Update on our Wage Subsidy Scheme:
👨🔧1.6m workers supported
💰$10.3bn already paid out to businesses
The wage subsidy scheme is protecting jobs, supporting wages and making sure workers remain connected to employers so we're well positioned for recovery.
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Our Wage Subsidy Scheme has now paid out $9.9 billion to support 1.6 million workers.
The Scheme is designed to keep Kiwis attached to their jobs and protect incomes. It gives families certainty and businesses confidence to look to the future and plan for the recovery.
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More measures out today to help cushion the blow to businesses from COVID-19:
✔️$3.1b tax loss carry-back scheme
✔️Changes to loss continuity rules
✔️$25m in business consultancy support
✔️Measures to support commercial tenants and landlords
✔️More flexibility for tax payment
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Over a million workers have now been supported by the Government’s wage subsidy. We’re supporting businesses to pay wages, keeping their workers employed, so we’re all in a better position to kickstart the economy on the other side
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Moody's has backed our plan to cushion the blow of COVID-19 by reaffirming our Aaa credit rating. Our immediate priority has been protecting workers, jobs and businesses with a significant economic package. We’ll continue to build upon the package as the situation develops.
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Update on COVID-19 Wage Subsidy payments:
💵 $1.5bn paid out
✅ 72,913 applications approved
👷♂️244,887 workers supported
We continue to move as quickly as we can to get wage subsidies paid to businesses so they can stay afloat and keep workers employed.
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Update on COVID-19 Wage Subsidies as at 24 March:
📄 117,273 applications
✅ 41,505 approved
💵 $687m paid
We’re moving as quickly as we can to get wage subsidies paid to keep New Zealanders employed and businesses afloat.
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Our $12.1bn COVID-19 Economic Package:
👷🏽$5.1bn to keep people in work
🏥 $500m boost to health
🤒 $126m leave & self-isolation support
❄️ Double the Winter Energy Payment
💵 $25pw benefit increase
📊$2.8bn in tax changes to help business
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Just finished my call with Aus Treasurer
@JoshFrydenberg
. We shared details of our countries’ health and economic responses and committed together to make sure our countries come through this rapidly evolving situation
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Provided an update on the Govt economic response to COVID-19 at
@WgtnChamber
Capital Matters this morning. NZ can deal with the challenges of this global outbreak. We’re working now to protect businesses and workers
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We’re protecting NZ against COVID-19 global impacts:
☑️Business Continuity Package
☑️$11m for tourism industry
☑️$4m to boost business advisory services
☑️told govt depts to pay bills in 10 days
☑️major infrastructure investment
☑️financial help for those who lose their jobs
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