The Government’s wage subsidy scheme is fit for purpose, especially since the adjustments.
However, the benefits could be undermined by the high cost of rents businesses are continuing to have to pay through the lockdown, said Auckland Business Chamber head Michael Barnett.
Many good businesses without any income and minimal savings are paying rents that will mean closure before too long.
Calling on Government to help ease rental costs, Barnett acknowledged that the support package includes a rents freeze, but this wouldn’t help many productive businesses weather the lockdown.
He praised Government’s for the flexibility it had shown on the wage subsidy scheme. “Government has been fast-acting to cushion the blow to protect jobs, but easing rental costs would be a critical survival factor for many businesses and their workforce.”
For more information contact Michael Barnett, mobile: 0275 631 150.
Michael Barnett, Chief Executive, Auckland Business Chamber.