Here is our second post on the important announcements from the 2020 budget. In some sectors, it is hoped to generate activity creating new jobs. Other sectors will see a jobs exodus. People will need to retrain, either for restructured businesses or moves to other sectors. Budget 2020 addresses this with:
- $5b for construction activity on 8,000 additional public and transitional homes. Public confidence in the Government’s capability in this area has taken a hit. It’s yet to be seen whether they can meet this goal
- $1b to create 11,000 environment jobs (including regional projects, biosecurity, weed and pest control, and additional DOC jobs)
- a $1.6b trades and apprentices package (including support for businesses to keep their apprentices, free apprenticeships and training in critical industries, increased enrolments in tertiary education and $50m for Maori Apprentices and Trades Training)
- $400m for a Tourism Sector Recovery Plan, recognising this is the first stage for a sector deeply affected by COVID-19 with a lot of uncertainty ahead
- a $3b contingency boost for additional infrastructure, specific projects to be identified via the Infrastructure Reference Group, in partnership with local bodies and the Provincial Growth Fund.’
“Supporting New Zealanders who lose their job because of the virus is at the heart of our economic response” – Jacinda Ardern.