Whats in the 2020 budget for business?

Wage subsidy extended but targeted

· From 10 June for an 8 week period, firms and the self- employed/sole traders who can prove their revenue has halved over the previous 30 days compared to the year before will be eligible.

· The payment remains at $585 per fulltime worker and will be paid to employers in a lump sum.

Ecommerce support for small businesses

· $10 million in funding to support small businesses to improve their e-commerce service offerings, and incentives/grants to encourage ecommerce adoption.

Research and Development

· $150 million short-term temporary loan scheme to incentivise businesses to continue R&D programmes. The loans will provide one-off finance and will be administered by Callaghan Innovation.

Trade

· $216 million boost to New Zealand Trade and Enterprise to expand the scope and intensity of support provided to exporting firms.

Training

· $1.6 billion in a Trades and Apprentices Package including financial support for businesses to retain their apprentices, free apprenticeships and training in targeted critical industries. There is a specific $50 million fund for Maori Apprentices and Trades Training.

Infrastructure and housing

· $3 billion more for infrastructure, including building 8000 state and social houses over the next 4 to 5 years.

Environment jobs

· 1.1 billion to create 11,000 green jobs including regional environmental projects, biosecurity and pest control roles, and DOC's "job for nature" fund.

Tourism Recovery Fund

· $400 million - including a transition programme to support businesses to plan for the next steps, a fund to ensure key tourism assets survive and a domestic tourism campaign.

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