The extension of the wage subsidy scheme – which is expected to cover 470,000 jobs – has been welcomed by unions and business lobby groups alike.

The current scheme was meant to expire on September 1, but Robertson announced yesterday that it had been extended another two weeks.

It is expected to cost the Government just over $500 million.

The mortgage deferral scheme has also been extended until March 31 next year.

The Finance Minister also isn't ruling out sector specific support in the wake of Covid-19.

Hospitality is one of those sectors asking the Government for a targeted support package.

Grant Robertson told Mike Hosking he's acutely aware of the impact on hospitality and retail to an extent, and he's continuing to look at what can be done.

"It becomes hard to define what a hospitality, retail and tourism business is, but we've attempted to provide sector specific support and they'll keep trying where we can."

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