New Zealand extends wage subsidy scheme to support more businesses

New Zealand said on Friday that it was extending its wage subsidy scheme to help an additional 40,000 businesses keep staff employed as they recover from the impact of the coronavirus pandemic.

After feedback from businesses, the government decided to change the required revenue drop threshold for firms to apply for wage subsidy to 40% from 50%, finance minister Grant Robertson said in a statement.

Robertson said small businesses would also be given more time to apply for a cashflow loan scheme.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)