ZB

Grant Robertson: Economy will suffer well beyond lockdown period

Author
Newstalk ZB,
Publish Date
Tue, 24 Mar 2020, 9:52am
Photo / File
Photo / File

Grant Robertson: Economy will suffer well beyond lockdown period

Author
Newstalk ZB,
Publish Date
Tue, 24 Mar 2020, 9:52am

A warning the economy will suffer well beyond the lock-down period.

All essential businesses in this country will close from midnight tomorrow in a bid to stamp out Covid-19.

Finance Minister Grant Robertson told Mike Hosking that's why we need to be careful with spending on income support and wage subsidies.

He says from an economic perspective, the notion things will suddenly go back to normal in a few months isn't something we can expect.

The Finance Minister says jobs have already been saved by an extension to the Government subsidy for employees.

The cost of the scheme's now expected to be $9.3 billion dollars.

Robertson says it's a tough time for workers and businesses,  but there's relief it's going to be available for more of them now.

He spoke to one person who'd let 40 staff go yesterday morning, then after the announcement he'd rung them back, telling them to return.

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