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NZ’s Key announces NZ$50mln redundancy package

NZ’s Key announces NZ$50 mln package to help sacked workers

Dec. 15 – Prime Minister John Key announced a NZ$50 million assistance package for families hit by redundancy as the global economic slump hurts New Zealand companies.

The ReStart package, which will be backdated until Nov. 8, covers as many as 70,000 people losing their jobs. Beneficiaries will be low-income families and those who can’t meet mortgage payments after being made redundant.

The package is designed to give some breathing space to families hit by redundancy, said Social Development Minister Paula Bennett.

The assistance includes NZ$60 a week for families with up to three children who are no longer eligible for the In-Work tax credit and an extra NZ$15 a week for each additional child.

A further payment of up to NZ$100 a week is available to those who qualify for the maximum accommodation supplement. Payments are to start in the New Year and only apply to people made redundant, not those who left their jobs for other reasons.

(Businesswire)

ENDS

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