Our economic recovery from the impacts of COVID-19 requires assistance to help businesses to survive under restricted conditions, along with incentives to invest early in future growth. National has proposed ideas to provide cash flow to businesses to ensure they can survive, and that the jobs they provide can remain once the wage subsidy expires.
The wage subsidy has helped many workers to retain some income over the lockdown and Level 2 restrictions. The effectiveness of that support will be undermined if their jobs no longer exist because businesses have been unable to meet their other costs and are forced to close. Our GST cash-back initiative would pump immediate cash into businesses to help keep them afloat.
To help keep those jobs available. The full expensing of capital investment up to $150,000 per year would help to encourage businesses to invest early for future growth. Our recently announced JobStart initiative would provide businesses with a grant of $10,000 for each new additional employee they take on between November 2020 and March 2021, providing another incentive to get growing sooner and to help to provide employment for up to 50,000 people who would otherwise face unemployment during uncertain times.
National understands that it will be private sector growth that will provide the employment opportunities and growth that will lift us out of the economic crisis sooner and stronger. We have encouraged to Government to take up these initiatives now. The livelihoods of so many New Zealanders are at stake. More debt without a plan will simply indebt the country for decades to come.
We need better than that.