Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

NZ’s Strong Economic Position Recognised

The Government’s strong economic position to support businesses and jobs through COVID-19 and invest for the recovery has been recognised in another major international report.

Credit ratings agency Standard & Poor’s (S&P), today reaffirmed New Zealand’s AA+ local currency credit rating, and maintained its positive outlook. This follows Moody’s reaffirming its Aaa rating last week, highlighting New Zealand’s strong economic fundamentals and low Government debt compared to the rest of the world.

“The success of our health response and the gains made by all New Zealanders fighting this virus is giving us a head-start on other countries to get our economy moving again,” Finance Minister Grant Robertson said.

“We went early and hard in our economic response to match our public health efforts by getting money out the door to support businesses and protect jobs and incomes.”

S&P’s report says the Government’s investments are cushioning the blow of COVID-19 on the economy. It notes how the global recession, as well as reduced economic activity here due to COVID-19, will see fiscal deficits and an increase in Government debt as we invest to support the economy.

“We’ve already said that there will be a period of higher debt and fiscal deficits. The S&P and Moody’s reports are an acknowledgement that we are in a strong position to handle this, particularly when compared to the rest of the world,” Grant Robertson said.

On Friday, the Government announced a significant component of our business support package, the Small Business Cashflow Loan Scheme. This will provide Government loans of up to $100,000 for businesses with 50 or fewer employees to boost cashflow and help cover operating costs like rent. The loans are interest-free if repaid within a year.

This comes on top of support already announced, including the wage subsidy, the biggest business tax support package in modern New Zealand history, and measures to boost incomes like last week’s doubling of the Winter Energy Payment.

“Today’s news is a further reminder of why it is so important that we don’t lose the gains New Zealanders have made fighting this virus together. By locking in these gains we’re putting our economy in the best position to get moving again,” Grant Robertson said.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Clark Exit, Convention Centres, And The Killing Of Hachalu Hundessa


Goodbye, David Clark. In the end, the outgoing Health Minister decided that in the midst of a pandemic the best thing he could do for New Zealand would be to no longer be there – given that being there had involved hiving off on his mountain bike during a lockdown, and throwing the country’s most beloved Health bureaucrat under a bus. As Clark indicated so memorably at last week’s press conference, when it comes to managing public health risks at the border the buck stops with…that guy over there! In the aftermath of that debacle, Clark reached the same conclusion the nation had reached some time ago, that leadership just wasn’t his thing. Once again, he got on his bike.... More>>
 

Government: David Clark Resigns As Health Minister

The Prime Minister Jacinda Ardern has accepted David Clark’s resignation as Health Minister. More>>

ALSO:

Election 2020: Green Party Unveils Income Policy

The Green Party is today unveiling its Poverty Action Plan, which includes a Guaranteed Minimum Income to ensure people have enough to live with dignity. The scheme resets income support payments to ensure everyone not in full-time paid work gets at least ... More>>

ALSO:


Conservation: New Protection For Dolphins

Extensive new protections are being put in place as part of an updated plan to look after New Zealand’s native Hector’s and Māui dolphins, announced Minister of Fisheries Stuart Nash and Minister of Conservation Eugenie Sage today. More>>

ALSO:

Auckland: Water Consent Referred To Board Of Inquiry

Environment Minister David Parker has today “called in” Auckland’s application to the Waikato Regional Council to take an extra 200 million litres of water a day from the lower reaches of the Waikato River for Auckland drinking water and other municipal uses... More>>

ALSO:

Gun Law: A New Firearms System Focused On Safety

Tougher gun laws will begin to take effect from next week following the passage of new firearms legislation through Parliament today. The Minister of Police says the Third Reading of the Arms Legislation Bill is an historic milestone for community ... More>>

ALSO:

Government: Building A Stronger Health And Disability System

The Government is committing to a long-term programme of reform to build a stronger New Zealand Health and Disability System that delivers for all. More>>

ALSO:

National: Todd Muller Announces Caucus Reshuffle

Today I am confirming a minor shadow cabinet reshuffle due to the retirement of Paula Bennett. Dr Shane Reti will be ranked number 13 and will take on Associate Drug Reform. Shane has demonstrated a huge intellect and capacity for work, supporting ... More>>

Biosecurity: Winston Peters On EU Travel: 'We're Not Going To Compromise Our Country's Health'

Foreign Minister Winston Peters says New Zealanders who head to Europe on holiday should pay for their two weeks' hotel quarantine when they return. More>>

Economy: Infrastructure Investment To Create Jobs, Kick-Start COVID Rebuild

A new package of infrastructure investments will help kick-start the post-COVID rebuild by creating more than 20,000 jobs and unlocking more than $5 billion of projects up and down New Zealand. Finance Minister Grant Robertson and Infrastructure Minister ... More>>

ALSO:

Covid-19: Isolation System To Be Beefed Up After Stress

A range of improvements are already underway to address issues identified in the rapid review of the Managed Isolation and Quarantine system released today, Housing Minister Megan Woods said. The review was commissioned just over a week ago to identify ... More>>

ALSO:

Election 2020: Parties Get Into Gear

ACT has today announced its list for the 2020 General Election. “The calibre and experience of our candidates will impress voters of every persuasion. We have candidates from all walks of life. People who have built their homes, families and businesses ... More>>

ALSO:


Int'l Trade: New Zealand To Host Virtual APEC In 2021

Foreign Affairs Minister Winston Peters and Trade and Export Growth Minister David Parker announced today that New Zealand’s hosting of APEC in 2021 will go ahead using virtual digital platforms. Mr Peters said the global disruption caused by COVID-19, ... More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 


 

InfoPages News Channels