Finance Minister Grant Robertson said today it's possible some businesses could get a provisional tax holiday to help counteract losses due to the coronavirus, and he encourages employers to offer flexible sick leave options.
One case of Covid-19 has been confirmed in New Zealand while two others are being tested, as the virus wreaks havoc on the global economy.
Speaking to the media today, Mr Robertson said he and Jacinda Ardern had spoken to some affected businesses in a meeting last night.
He pointed to electronics and packaging as two import areas he's aware have been affected by the virus.
"It's a mixed picture in terms for those who are able to find other sources for that, those who are facing a delay, and those who that delay would then impact on their abilities. So far people are making do, but these are the potential impacts."
One possibility to help businesses would be a provisional tax holiday and waiving the late fees.
"As of Friday, around 120 businesses have been in touch with issues like that," Mr Robertson said.
Both have symptoms of the illness and have travelled to places where there are outbreaks. (Source: Other)
UNIONS CONCERNED AS SELF-ISOLATION SUCKS UP SICK LEAVE
Another issue on the table is that of sick leave.
Legally, companies are only mandated to provide five days of sick leave a year.
With the 14-day self-isolation requirement expanding for more countries, unions in particular are concerned.
Mr Robertson says he encourages businesses to offer "flexible" options for their employees.
"They want to keep their own staff safe and healthy, as well as the rest of the population."
Prime Minister Jacinda Ardern was also at last night's meeting and today said they're looking at possible funding options for impacted businesses.
"At the moment we're looking at the need and putting in funding where it's required," she said.
"My clear request to [businesses] was, 'Please tell us, even if it's anecdotal. As soon as you're seeing impacts in particular sectors, let us know.'
"Our intention is to get in front, as much as we can, of some of the issues that we're seeing."
There are warnings Kiwi companies will need to diversify where their products are made. (Source: Other)
PACKAGE ANNOUNCED FOR CORONAVIRUS-IMPACTED BUSINESSES
There is some relief on the way for businesses affected by the coronavirus spread.
Economic Development Minister Phil Twyford today announced an extra $4 million for the Regional Business Partners programme to help provide practical advice for impacted businesses around the country.
"Our Government’s economic response to Covid-19 is focused on protecting jobs and supporting impacted workers and businesses," he said.
"Cabinet also agreed to establish up to 16 rapid response Ministry of Social Development teams to assist with immediate needs such as helping move workers into other employment and referring those in need of further support to other government agencies," he said.
"This is on top of $11 million provided last week to help Tourism NZ boost visitor numbers."
Mr Twyford said he's confident New Zealand's economy will bounce back after the coronavirus slump.
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