The most significant peace-time economic plan in modern New Zealand history to cushion the impact of COVID-19 in the fight to support Kiwis’ jobs and the domestic economy from the virus.
The $12.1 billion package is worth 4% of GDP, a larger plan than that implemented in response to the Global Financial Crisis and comparatively larger than relief packages announced to date in Australia, the UK and the US. The package is about protecting New Zealander’s health, protecting the vulnerable, protecting livelihoods, and ensuring the quickest recovery possible on all fronts.
“The Government is pulling out all the stops to protect the health of New Zealanders and the health of our economy,” said Prime Minister Jacinda Ardern.
Supporting New Zealanders and businesses
The Coalition Government has gone hard with the health response, and now is going hard with its financial assistance. Their immediate goal is to support people and businesses as we weather the impact of COVID-19. They must then ready the economy to recover. The Coalition is united in doing everything it can to support New Zealand workers and businesses.
- $500 million boost for health
- $8.7 billion in support for businesses and jobs
- $2.8 billion for income support and boosting consumer spending
Backing health services
The best protection for the local economy is getting the virus under control, which is why the Government is investing half a billion dollars in frontline health services to fight COVID-19. If NZ can manage the virus it can mitigate the damage to the economy. The Government will be investing in more health staff, more virus testing, more medicines, face masks, extra intensive care capacity and equipment at hospitals, and more money for GPs.
- Dedicated $500 million fund to protect New Zealanders’ health
- Nearly doubling resources for Public Health Units, specifically to increase capacity for contact tracing
- $32 million for extra intensive care capacity and equipment at hospitals
- $50 million in support for GPs and primary care, and $20 million to improve video conferencing and telehealth consultations
- $20 million for more Healthline capacity
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