Robertson: Big businesses likely to take wage subsidy if level four continues

Author
Newstalk ZB,
Publish Date
Wed, 25 Aug 2021, 9:07AM
Finance Minister Grant Robertson. (Photo / File)
Finance Minister Grant Robertson. (Photo / File)

Robertson: Big businesses likely to take wage subsidy if level four continues

Author
Newstalk ZB,
Publish Date
Wed, 25 Aug 2021, 9:07AM

The Finance Minister expects big businesses will take up the wage subsidy if the level four lockdown goes on longer.    

Close to 130-thousand businesses have applied – but so far only one has more than 500 staff. 

Grant Robertson told Mike Hosking larger corporates have had a good year and their balance sheets are strong. 

He says Westpac economists are predicting a six percent drop in GDP in the September quarter, but a nine percent rebound in the December quarter. 

"I think that will be the calculation a number of those businesses are making, actually there is a temporary slow down here but the rebound is strong." 

But Robertson says cashflow will become an issue the longer the lockdown goes on. 

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