Budget 2020 will be ‘far from business as usual’

Finance Minister Grant Robertson.

This year's Budget is just one staging post in the fight against and recovery from COVID-19, says Finance Minister Grant Robertson.

Grant is delivering a pre-Budget speech to the Wellington Chamber of Commerce via videolink.

The minister will release the Budget in one week's time, but he said it will be "far from business as usual".

"It is a Budget delivered in the shadow of 1-in-100 year shock to our society and economy.

"The sweeping global health crisis has left almost every country in the world facing a devastating death toll, health systems under strain, and economies that have all but ground to a halt, with millions around the world losing their jobs and businesses."

Grant says the government has a plan to tackle COVID-19: respond, recovery, and rebuild.

"Our recovery will continue with interventions to sustain households and businesses and get people working, in combination with sector-specific support to help boost wider economic confidence, and regenerate some of the sectors hit hardest by the pandemic.

"Our response goes far beyond direct financial support. Making it easier for activity to get going again will speed the recovery and get the economy back on its feet faster. That's why we're making the regulatory and legislative changes necessary to help speed up the recovery through this period."

Grant says the government is focused not only on rebuilding the economy, but on rebuilding it better.

"In the midst of the crisis and our desire to return to a sense of normality, we should all acknowledge that things weren't perfect before COVID-19 hit us.

"There are few times in life when the clock is reset. Now is the time we should address these long-term issues. It is a privilege many countries won't have. It's not one we should squander," he said.

Grant says new spending packages planned on the five priorities that were announced in the Budget Policy Statement have been re-assessed and unless they are meeting a core cost pressure, they have been "put on ice".

"The focus for Budget 2020 has now very quickly become providing the strong public services we need and taking our next steps to recover and rebuild.

"I want to be clear that there will be further support for the recovery and rebuild after Budget Day. As I said earlier, we have to keep working every day to get through this together and to thrive again. To recall an earlier politician's words, Budget 2020 is part of a rolling maul of support."

-RNZ

2 comments

Panic

Posted on 07-05-2020 18:46 | By Slim Shady

Never mind the 1in100 year rubbish. We need to hope something deadlier than a cold doesn’t come along in the next 10 years or the cupboard is bare. We’ve already dodged 3 bullets in the last few years with SARS, MERS and Ebola. They’ve panicked over nothing.


Another doozy from Slim Shady!

Posted on 08-05-2020 21:48 | By laugeo

As the world closes in on 300,000 deaths from Covid-19 and globally this is clearly far from over, we can take solace in the fact that because we "panicked over nothing" we have only lost 21 lives in New Zealand. I am also sure that the families and friends of those who have lost their lives will be comforted by seeing this virus and its consequences described as "nothing". Hopefully, in the medium to long term we will have a cure for this virus. Unfortunately the same cannot be said for idiocy.


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