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New Zealand's coronavirus stimulus leaves the working poor most exposed | Brad Olsen
Though significant, Jacinda Ardern’s measures will not avert a downturn, and lower-income workers will be hardest hit The New Zealand government’s announcement of a NZ$12.1bn spending package is massive – that’s undeniable. But the economic downturn that New Zealand faces will be even larger. The downturn is going to cause economic chaos, and it will see job losses. The key to limiting the impact of the Covid-19 pandemic on the economy is supporting employment and businesses, and although the package assists these aims, it doesn’t go far enough.The stimulus package mirrors similar measures around the world, with wage support and paid self-isolation leave. It boldly focuses on businesses, with support for employment as we enter a downturn – and that’s exactly the right area to be targeting. In New Zealand, increased payments to those already out of work have been announced, as have measures to free up business cashflow. It also includes a suite of additional measures. However, there is a glaring gap, with little support for lower-income workers themselves. Continue reading...
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