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News / New wage subsidy open to protect jobs, support businesses

New wage subsidy open to protect jobs, support businesses

New wage subsidy open to protect jobs, support businesses

Posted August 21, 2020
Business

Media Release: Hon Grant Robertson Hon Carmel Sepuloni

Eligible businesses can apply for a two-week wage subsidy of up to $1,171.60 per worker from today to help cover wages.

Applications for the new wage subsidy opened on the MSD website from 1pm today. The new wage subsidy and the current Wage Subsidy Extension – which is open for new applications until 1 September – will support an estimated 930,000 jobs.

To be eligible, a business must have experienced, or is projected to experience, a 40% revenue drop across a 14-day period between 12 August and 10 September when compared to a similar period last year.

The wage subsidy is available nationwide, given the nature of the current restrictions. This recognises the size of Auckland’s economy and the connections between Auckland businesses and others around the country. It also recognises the impact the current restrictions are having on hospitality and tourism businesses around the country.

Social Development Minister Carmel Sepuloni said MSD has advised it will make payments within 5 days for most applications.