Govt’s COVID plan, economic strength recognised

Finance Minister Grant Robertson.

The Government’s plan to cushion the blow of COVID-19 by supporting incomes, jobs and businesses, and position the economy to recover has been backed by another international report.

International credit rating agency Moody’s today reaffirmed its highest Aaa credit rating on New Zealand, saying the economy is expected to remain resilient, backed by the Government’s strong fiscal management and our flexible economy.

“New Zealand has entered this crisis in a strong position. Our levels of debt are very low compared to the rest of the world. Moody’s have recognised this strong position and the other underlying fundamentals of our economy,” Finance Minister Grant Robertson says.

“The Government took bold and decisive action early as we saw the pandemic take hold overseas, to protect our people, their jobs and businesses, and the economy.

“Our best economic response is to unite to fight this virus. That’s why we’re making sure New Zealanders have what they need during this lockdown to stay home, break the chain and save lives.

“The wage subsidy is supporting jobs and businesses, and keeping workers and employers connected during the lockdown so they are in the best position to reopen and kickstart the economy out the other side.

“This is backed by the business finance guarantee, tax changes to improve cashflow, the rent freeze, Winter Energy Payment boost and income support measures, which are all targeted at supporting incomes and jobs.

“Our early action has seen money get out the door and given us valuable time. There is still much to do. We will continue to develop further support options as the situation evolves.

“We are also using this time to put plans in place for what New Zealand’s economy will look like in the face of continued global disruption when we have COVID-19 under control here at home.”

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As we enter this situation.......

Posted on 04-04-2020 09:39 | By groutby would appear the Government have been able to at least be seen to be doing the ’right thing’ by most as best as possible in a short space of time. That said, the cracks are already beginning to show in particular within the more senior government MP’s, and although Mr Robertson may well be fiscally ’savvy’, we will need a strong business plan to come out of our certain recession as quickly and efficiently as possible. My belief is although we currently have the calm and reasonably reassuring words and assistance from our current government, (which we need right now,) the Labour Party will make a complete hash of the financial recovery, having little wide reaching financial knowledge. We can only hope we engage services of business leaders from all potitical persuasions to help with our recovery...we will need it.....

Whats the exit strategy?

Posted on 03-04-2020 18:14 | By Old Bloke

Haha Best Finance Minsiter this governmnet has had. Also worst Finance Minisiter, Prettiest whatever. He is the ONLY Finance Minsiter this government has had. But what seems to be missing is a strategy. Overall objectives and how to handle the lockdown exit and returning NZ (albeit slowly) to normal. Not only ex Finance Ministers are asking this question. Try Sir Clifford Skeggs in his evidence to Select Committee. Try Economist Shamubeel Eaqub Lets not under estimate the size of the task. But lets also acknowledge the Governments response so far has been rather adhoc, dare I say-Kneejerk


Posted on 03-04-2020 16:10 | By Merlin

Add Mike hosking to the people who think they know better than what is going on.He seems to think he is an expert on everything including at knocking the government at every opportunity.Still have a vivid memory of his face when the government was annouced.Lol

Grant Robertson is

Posted on 03-04-2020 12:30 | By Bruja

the best Minister of Finance this government has ever had. We are exceedingly blessed that he is in power right now and for the forseeable future.

Not the time

Posted on 03-04-2020 12:16 | By Merlin

Not the time forBill English and Steven Joyce to think they no better than what is going on as it just looks like political point scoring on behalf of the National Party.We need to be united.

Let us

Posted on 03-04-2020 11:50 | By Merlin

Let us not forget the logistics involved in this rapidly moving pandemic and all the work being done to get this up and running in a very short time.Now is not the time for negativism or point scoring.UNITE.