3. Question No. 3—FinanceKIRITAPU ALLAN (Labour) to the Minister of FinanceQuestion No. 3—Finance3. KIRITAPU ALLAN (Labour) to the Minister of Finance: What actions is the Government taking to support New Zealand businesses and households to respond to and recover from COVID-19?Hon GRANT ROBERTSON (Minister of Finance): The best economic response to the virus has always been a strong public health response. That's why the first wave of our response is aimed at fighting the virus and cushioning the blow of it on our businesses and households. We allocated a $500 million fund early on in our response to strengthen our health services to fight and contain COVID-19. In addition we have provided $10.5 billion in wage subsidies meaning affected businesses received support directly from the Government to keep their staff on; a $2.8 billion income support package for our most vulnerable; $2.8 billion of business tax changes to reduce cash-flow pressure; a $6.25 billion business finance guarantee scheme; and a suite of other measures to support businesses including the $3.1 billion tax loss carry-back scheme. We put in place a safety net for as many Kiwi households and businesses as we can and these immediate measures will mean we are all in a better position to bounce back on the other side of this crisis.Kiritapu Allan: How is the Government developing a plan for the New Zealand economy in the wake of COVID-19?Hon GRANT ROBERTSON: The second wave of the Government's economic response plan is to position for recovery and kick-start the economy. As we move into level 3 many more parts of our economy are opening up to work. The Government is working with sectors across our economy and society to develop recovery plans as we move further down the alert levels. This includes the infrastructure industry reference group and in areas such as housing training Māori and Pasifika response tourism and the media. Ministers are tapping into all the ideas and talents New Zealand has to offer including from our businesses entrepreneurs academics and unions. Through these plans the Government will provide a kick-start to economic growth as restrictions ease further and as we move further towards a new normal.Kiritapu Allan: What steps is the Government taking to ensure New Zealand's long-term economic recovery?Hon GRANT ROBERTSON: As we look ahead we must be aware of what our economy could look like. The crisis represents an opportunity to reset and rebuild our economy. There are some longstanding challenges which we will continue to face including low productivity inequality climate change and a lack of diversity in our export markets. We know we now have a chance to reorient our economy and society and we want to take these opportunities and tackle these problems. We have formed a macroeconomic response group of Ministers—including the Prime Minister the Deputy Prime Minister myself and Minister Parker—to guide this work and this work will also include a critical role for the private sector unions NGOs and others. Our long-term plan is to build a productive sustainable and inclusive economy that protects the long-term wellbeing and living standards of all New Zealanders.