New Zealand’s wage subsidies reach 1 million workers | Instant News

WELLINGTON, New Zealand – More than one million New Zealand workers now receive emergency wage subsidies that the government hopes will limit job losses during pandemic locking.

About 6.6 billion New Zealand dollars ($ 3.9 billion) have been distributed under the subsidy program, Finance Minister Grant Robertson said Tuesday.

The Ministry of Finance estimates that the subsidy, which is currently planned to last 12 weeks, will cost between NZ $ 8 billion and NZ $ 12 billion.

About 1.07 million people, or around 41% of the country’s workforce, receive subsidies, Robertson said in a statement.

New Zealand’s coronavirus case on Tuesday dropped to the lowest level in the country since March 25, a sign that national locking is slowing the spread of the virus.

Write to Stephen Wright at [email protected]


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