NZ's coronavirus stimulus by the numbers

NEW ZEALAND STIMULUS IN A NUTSHELL

* $12.1 billion total package - equal to 4 per cent of New Zealand GDP

Finance Minister Grant Robertson: "This will affect every part of our economy, now and for some time to come. We are going to see New Zealanders lose their jobs and some businesses fail. We will have an extended period of deficits and our debt as a country will have to substantially increase."

Prime Minister Jacinda Ardern: "The Government is pulling out all the stops to protect the health of New Zealanders and the health of our economy."

* $8.7 billion for business and jobs

* $2.8 billion for income support and boosting consumer spending

* $500 million into frontline health services

BUSINESS AND JOBS

* Employer subsidies of up to $585 per week for full-time workers and $350 per week for part-time workers ($5.1 billion)

* Depreciation deductions for commercial and industrial buildings ($2.1 billion)

* Immediate deductions for new small assets ($667 million)

* Aviation industry bailouts ($600 million)

* Self-isolation leave ($126 million)

* Worker redeployment support ($100 million)

* Delay in tax and interest payments for small business and taxpayers

INCOME SUPPORT

* The base benefit payment will rise by $25 a week, permanently ($600 million per year)

* This year's winter energy payments will double ($480 million)

FRONTLINE HEALTH

* Immediate funding for GP support, testing, tracing, public health campaigns and more ($235 million)

* Stocking up on medicines, vaccines, protective equipment ($205 million)

* Community outreach services for aged care, self-isolating ($50 million)

The funding is on top of $12 billion of infrastructure spending, labelled as the "New Zealand Upgrade Programme" announced in January, being spent largely on roads and rail.

All figures in NZ dollars ($NZ1 is worth $A0.98 and $US0.60)

Austrlaian Associated PressBack to Breaking News

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