All you need to know about the government’s latest support package for businesses and sole traders affected by the rise in alert levels. What’s all this then? In response to the current – and possibly future – increases in alert levels, the government has introduced a financial support package for affected businesses. Called the Resurgence … Read more
Summer reissue: The story of how a leisurely bike ride around Hawke’s Bay turned into a one-man rampage against perceived corporate privilege. First published October 24 2020 In the early hours of October 10, in a motel in Napier South, Ian Swney, 62, was struggling to sleep. A semi-retired kindergarten teacher, he’d travelled to Napier … Read more
Good morning and welcome to The Bulletin. In today’s edition: Trump claims fraud with Biden holding slight edge, unemployment rate rise not as bad as feared, and Kim Dotcom extradition case to drag on further. If you switched the US election off early last night, you’ll probably have missed one of the most remarkable moments … Read more
The story of how a leisurely bike ride around Hawke’s Bay turned into a one-man rampage against perceived corporate privilege. In the early hours of October 10, in a motel in Napier South, Ian Swney, 62, was struggling to sleep. A semi-retired kindergarten teacher, he’d travelled to Napier from his home in Morrinsville to join … Read more
BusinessDesk‘s Rebecca Stevenson looks into the controversial restructuring programme at New Zealand’s largest retailer, which has slashed hundreds of jobs and shuttered stores nationwide. I still recall as an employee of the former Fairfax Media business seeing a report in The Australian in 2013 which filled me, a junior reporter with an interest in business, … Read more
Good morning and welcome to The Bulletin. In today’s edition: Wildly different caucus meetings loom for National and Labour, new case of community transmission announced, and anger mounts over wage subsidy piss-taking. The mood in the room will be very different when the Labour and National caucuses meet this week. For Labour, it’ll be a crowded … Read more
Good morning and welcome to The Bulletin. In today’s edition: Labour puts little new in climate policy, community cases once again down to zero, and Collins has a bad day out in Ponsonby. Labour’s climate change policy announcement has been received as a bit of a letdown by their potential allies in the next parliament. Newshub covered … Read more
Good morning and welcome to The Bulletin. In today’s edition: Reckoning comes for wage subsidy, house prices no longer tipped to fall, and second death in the same family from Covid-19. It was a policy conceived in an emergency, was deployed rapidly, and prevented a total economic disaster from crashing over the country. But now serious … Read more
Hundreds of millions of dollars in wage subsidies have been paid out to profitable companies and their shareholders. Nick Mowbray, Zuru co-founder and one of NZ’s most successful entrepreneurs, urges them to do the right thing and pay the money back. Last month, Summerset Group Holdings, an NZX50-listed company and one of the country’s largest … Read more
Good morning and welcome to The Bulletin. In today’s edition: New sexuality and relationship education guidelines announced, things happen and announcements made on campaign trail, and reason for massive health funding shortfall in South Auckland revealed. New guidelines for sexuality and relationships education in schools have been released, with the aim of making them more … Read more
It’s results season for many of New Zealand’s biggest corporates, which find themselves awkwardly announcing large profits, with the wage subsidy helping them get there. We’re now approaching six months since the dread of late March, when over the course of a few fearsome days New Zealand closed its borders, locked its population inside and … Read more
What happens to your job and income if you need to self-isolate? We take a look at the scheme that is designed to keep you in pay even when you can’t work. With Covid-19 once again present in the community, hordes of people have been showing up at testing centres across Auckland, often queuing for … Read more
Good morning and welcome to The Bulletin. In today’s edition: Reaction to the election delay, questions continue over the information given over testing, and Watercare CEO resigns amid drought. As you’ve no doubt heard by now, the election will be delayed by four weeks. Here’s a report on that from Justin Giovannetti, who writes that it follows consultation … Read more
Do you qualify for the government’s new wage subsidy extension? Here are the essentials. What’s all this then? Last Friday, the government announced Auckland would stay in alert level three – and the rest of New Zealand in alert level two – for another 12 days, as part of its response to the recent Covid-19 … Read more
Good morning and welcome to The Bulletin. In today’s edition: Questions over testing of border workers, decision on delaying election to be made today, and concerns for educational progress with new lockdown. The first point to note about managed isolation facilities – we don’t necessarily know that was where this latest outbreak came from. Alternative theories … Read more
Whether it’s a grant or a wage subsidy, industry leaders say Auckland businesses need government support. With the mending glue barely having dried, some Auckland businesses will be cracking again under the pressure of the new level three lockdown. Now they are calling on the government to help. Finance minster Grant Robertson has already hinted … Read more
Today at noon, Auckland moves into alert level three while the rest of New Zealand moves into alert level two. Here’s how it will affect businesses and what you can do to help. Three days at a higher alert level may not seem like much, but for many fragile businesses still recovering from the devastating … Read more
New Zealand’s unemployment rate has just fallen, defying experts and flying in the face of everything we expected. But according to Stats NZ, the devil is in the detail. What’s all this then? In a bizarre turn of events, New Zealand’s seasonally adjusted unemployment rate has actually fallen from 4.2% to 4% for the June … Read more
The end of the wage subsidy is expected to trigger an avalanche of financial hardship requests. Budgeting services and financial mentors are bracing to meet it head on. It’s been a surprisingly quiet few months for most of New Zealand’s budgeting services. Spending was down during lockdown and with more than a million people tended … Read more
Good morning and welcome to The Bulletin. In today’s edition: China furious at NZ over Hong Kong extradition suspension, woman says police haven’t started investigation into sexual assault almost a year later, and patients reportedly refusing Covid-19 tests. A significant update in New Zealand’s relationship with China: Yesterday foreign minister Winston Peters announced that this country … Read more
If you own a small- or medium-sized business, finding and accessing financial support amid all the noise and information can be overwhelming. So we’ve put together a list of what’s out there. Government support The Covid-19 wage subsidy With $11 billion paid out over the past three months, the government’s wage subsidy is the first … Read more
The Covid-19 wage subsidy was designed to pay workers throughout the lockdown and keep them employed. None of that happened at one company, despite it receiving over $2.1m. Workers who have lost their jobs at a South Auckland company are protesting the “deception” and lack of good faith that forced them to use up their … Read more
Good morning and welcome to The Bulletin. In today’s edition: Billions needed to fix poor state of hospital infrastructure, colonial era statues in the spotlight, and major problems emerge in modem rollout to students. Dozens of hospital buildings are in a poor condition, a new stocktake has found.Radio NZ’s Phil Pennington has a detailed report on … Read more
With roughly 97% of New Zealand enterprises categorised as small businesses – that is, 20 or fewer employees – accounting software platform Xero’s newly released analysis provides a stark picture of the severe impact of Covid-19 throughout the sector. What exactly does the data show? Essentially, the data shows that year-on-year revenue for small businesses … Read more
With many workers being asked to take voluntary pay cuts to help struggling businesses stay afloat during the Covid-19 crisis, it begs the question: why are so many of us compelled to accept? Towards the end of March, Ben* was asked by his employer of almost 20 years to take a 15% pay cut. Working … Read more
Michael Andrew heads to the south Auckland amusement park as it returns to business. When I was maybe 10 or 11 years old, I used to dream about having Rainbow’s End to myself. What if the park was empty, and I could enjoy all the rides without having to compete with the crowds or the … Read more
With billions paid out through the government’s wage subsidy scheme, Vanessa Schouten asks if all that was claimed by businesses was actually needed, and if it should be paid back. When the government introduced the wage subsidy scheme back in March, it was on the basis that the money would “help keep people attached to … Read more
Budget 2020: Yesterday $50b worth of financial measures were committed to protect jobs in the industries most affected by Covid-19. So what did small business owners make of it? For many business, perhaps the most anticipated and welcome measure in the Covid-19 response budget was the $4bn support package, which included an eight-week wage subsidy … Read more
In the first part of our new series with Kiwibank answering your questions about Covid-19’s impact on New Zealanders’ finances, a reader asks about ways to get their business through the economic downturn and take advantage of new opportunities. Kiwibank’s Nigel Gaudin responds. Dear Nigel, I run a small retail business with five staff and … Read more