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GSTV: Budget 2020
- The Government’s Covid-19 Response Package has a price tag of circa $62b, yet noticeably missing from the Budget was any commentary around specific funding mechanisms, particularly potential use of tax measures such as increasing personal tax or GST rates. Your respective perspectives on this and on the likely prospect for such measures being introduced in the short-term?
- Grant Robertson made the comment, “this Budget is about jobs”. Your respective thoughts on whether Budget 2020 will actually provide the platform for achieving that desired outcome?
- Budget 2020 included the following key support measures for businesses:
- Extension of the wage subsidy scheme for a further 8 weeks to end now on 1st November 2020;
- $150m R&D loan scheme to incentivize continuation of business R&D programmes; and,
- $216m to NZTE to assist exporting firms and $10m to small businesses to expand e-commence capabilities.