5. Question No. 5—FinanceHon TODD McCLAY (National—Rotorua) to the Minister of FinanceQuestion No. 5—Finance5. Hon TODD McCLAY (National—Rotorua) to the Minister of Finance: Does he believe that the current COVID-related financial support for struggling businesses is adequate and how many businesses if any does he expect to close permanently as a result of level 3 and level 4 lockdown restrictions?Hon GRANT ROBERTSON (Minister of Finance): Generally speaking yes but as we have done throughout the pandemic we monitor and modify the support provided to our businesses our workers and low-income New Zealanders as circumstances change. In answer to the second part of the member's question I cannot predict the future but what I can say is that last lockdown company liquidations actually decreased compared to the previous year and liquidations over this last year have tracked very similarly to previous years. I recognise that many businesses are doing it tough at the moment and we will continue to support them.Hon Todd McClay: Will he extend the resurgence support payment the small-business cash flow and the debt hibernation schemes to the 35000 businesses started in the last six months that are currently excluded and facing significant financial hardship as a result?Hon GRANT ROBERTSON: I thank the member for his letter on that matter that he sent me yesterday and I repeat the answer that I gave to the primary question: we continually look to see how we can provide the support to businesses as they need it.Hon Todd McClay: What additional support will he give to Auckland businesses who may face another four or five weeks of lockdown restrictions in light of reports that more than 80 percent of hospitality businesses are saying they are unsustainable after just four weeks of restrictions and could face closure?Hon GRANT ROBERTSON: I refer the member to my answers to earlier questions—that we will continue to look to see what support we can give to businesses. One point I would note around the question of targeting to a particular region is that one of the things we learnt in the last outbreak is that when there are restrictions in Auckland that has an impact all over New Zealand and so therefore we have tended to make sure that supports are available universally but as I said we will continue to see what else we can do to support our businesses.Hon Todd McClay: Has he asked the tourism Minister why he re-announced a scheme this week for four South Island regions to provide money to consultants to tell tourism businesses they don't have any tourists and how to close and wouldn't a reprioritisation of existing funds to actually help these businesses get through be better?Hon GRANT ROBERTSON: I do not accept the member's characterisation of either the announcement or the scheme.Hon Todd McClay: What financial support will he give to small businesses and landlords many of whom are small businesses themselves to specifically help with rent during level 4 and level 3 restrictions and will he work with us on a proposal to provide urgently needed assistance for their mounting rent bills?Hon GRANT ROBERTSON: The resurgence support payment which we brought in last year that is now being paid out through this lockdown was designed to address in part the issue of fixed costs which include rent and that payment has been paid out to the tune I think of around $428 million and along with the wage subsidy scheme means that a grand total of $1.37 billion has been paid out to businesses in New Zealand over the last couple of weeks. That is an important contribution. I recognise as I said earlier businesses are doing it tough at this time but it is important that we continue to monitor the schemes and see what we can do to change. I've noted the member's proposal that he put forward. It will be one of a number of things that we consider over coming days.Hon James Shaw: Can he confirm that last year the Government did considerable work on options for commercial rent relief for small businesses until those solutions were blocked by a party no longer represented in this House and if so will he renew that work now?Hon GRANT ROBERTSON: I'll answer the latter part of the member's question by saying that I am aware that Ministry of Justice officials who are responsible for the piece of legislation concerned continue to do work in that area and in terms of the first part of the member's question history is remembered by people in different ways and can be written up in the future.