Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Key announces $20M for apprentices, $3k jobless grant

Key announces $20 million more in apprentice subsidy, $3k grant to lure jobless to Canterbury

May 6 (BusinessDesk) – Prime Minister John Key says an extra $20 million will be provided in this year’s budget to expand the government’s apprentice subsidy scheme and $3.5 million for grants to lure unemployed people to jobs in Canterbury.

Key made the announcements in a pre-budget speech in Wellington in which he affirmed the government’s target of returning to surplus in the coming year.

The subsidy for apprenticeships amounts to $1,000 for eligible apprentices or trainees toward the cost of tools or off-job course costs, or $2,000 for those in priority trades. The additional spending will increase the number of places on the government’s Apprenticeship Reboot scheme, announced last year, to 20,000 from 14,000, Key said.

The grants for beneficiaries to take a job in Canterbury will be a lump-sum of $3,000, tax free and not subject to any income and asset test. To be eligible, they must show proof of a confirmed job offer of at least 30 hours a week and for at least 91 days.

The $3.5 million initiative, which would run for 12 months from July 1 would be enough to fund up to 1,000 beneficiaries, Key said.

Canterbury, which has been soaking up workers to help with the rebuild after Christchurch was devastated by earthquakes, has an unemployment rate of 3.4 percent, the lowest in the country, Key said.

The budget is announced on May 15.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Real Estate: Foreign Buyers Ban Passes Third Reading

The Bill to put in place the Government’s policy of banning overseas buyers of existing homes has passed its third and final reading in the House. More>>

ALSO:

Nine Merger: Fairfax Slashes Value Of NZ Business

Fairfax Media Group more than halved the value of its Kiwi assets, attaching just A$40 million to mastheads that were once the core of a billion dollar investment. More>>

Collecting Scalpers: Commerce Commission To Sue Viagogo

The Commission will claim that Viagogo made false or misleading representations: • that it was an “official” seller, when it was not • that tickets were limited or about to sell out • that consumers were “guaranteed” to receive valid tickets for their event • about the price of tickets... More>>

ALSO:

Price Of Cheese: Fonterra CEO Goes Early After Milk Price Trimmed

Aug. 15 (BusinessDesk) - Fonterra Cooperative Group chief executive Theo Spierings is leaving the role early after the world's biggest dairy exporter lowered its farmgate payout and trimmed its dividend to retain cash. More>>

ALSO: