Focus on jobs and infrastructure good for economy

BusinessNZ has welcomed the focus on jobs in the May 14 Budget.

BusinessNZ chief executive Kirk Hope said in a media release that the $3.2 billion extension to the Wage Subsidy Scheme announced, for a further eight weeks, was an appropriate use of Budget funding.

“Supporting the wages of employees has been a successful strategy in the Government’s Covid response so far, and it is good to see this strategy continue.

“Expanding the subsidy to include R&D start-ups – pre-revenue R&D start-up firms that are recognised by Callaghan Innovation – is also a smart way of boosting new and innovative firms that will aid New Zealand’s growth in the medium term.

“Major funding of $3 billion for infrastructure, in addition to existing Provincial Growth Fund infrastructure investments, is also well-placed.

Business looks forward to recommendations from the Infrastructure Industry Reference Group on investments in different regions across the country.”

Kirk Hope said investing in workers and infrastructure was a sound approach to supporting economic recovery.

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