Morning Report

The Budget has been revealed and businesses are thinking about how it will affect them.

Leeann Watson, the chief executive of the Canterbury Chamber of Commerce and Craig Hudson, the managing director for New Zealand and Pacific Islands at Xero speak to Corin Dann.

The Government's big spending budget lays out $50 billion to fight the impact of Covid-19 and steer New Zealand's economy back on track.

But will it be enough?

ANZ chief economist Sharon Zollner speaks to Kim Hill.

Grant Robertson's big Budget is out.

There's been a range of reactions to the Government's big spend on $50 billion to fight Covid-19, which includes an extension to the wage subsidy, $1.1 billion for green jobs and a $20 million war chest.

What's not in it is a raise to benefit levels, helicopter cash payments to stimulate the economy or any changes to the tax system.

Robertson speaks to Kim Hill.

A $50 billion Covid-19 rescue package poured out of the Crown coffers yesterday when the Government revealed its rebuild plan - but it's the $20 billion dollar blank cheque that's got the Opposition crying foul.

With just four months and four days untll the election, the National Party has labelled it a slush fund for election bribes.

The campaign has unofficially kicked off and even New Zealand First and the Greens started singing from their own songsheets within hours of the Finance Minister delivering his election-year Budget.

RNZ's political reporter Jo Moir has this story.

News from the business sector, including a market report.

Are you completely relieved that your children are going back to school on Monday?

Or feeling slightly sad?

Google data is revealing a peak in people searching homeschooling and correspondence school information.

The surge in interest came in the days before and after the Prime Minister announced New Zealand would be going to Level 2, and that students would be returning to school next week.

Gill Bonnett reports.

An environment scientist says our climate reduction goals have taken a back seat in this year's Budget in the scramble to recover from Covid-19.

A total of $1.1 billion has been set aside in this year's national Budget for the environment, with a focus on creating 'nature-based' jobs in regions.

Dr Janet Stephenson, director of Otago's Centre for Sustainability, says the economic disruption caused by the pandemic was the perfect chance to kickstart the economy in a sustainable way.

The 2020 budget allocated $400 million towards replacing the Cook Strait ferries which provide a crucial connection between the North and South islands.

The money is just the first tranche of cash for a project expected to cost more than $1 billion.

KiwiRail, which is the parent company of Interislander, hope to have two new ships in service by 2025.

Kiwirail chief executive Greg Miller told David Reid much of the cash will be spent on resizing the ferry terminals to accommodate the bigger vessels.

A Fox Glacier tourism business decimated by the closing of New Zealand's borders says the sector will be in strife if the wage subsidy doesn't continue until next summer.

Yesterday Grant Robertson announced the extension of the subsidy by eight weeks but increased the threshold for businesses to receive it.

Rob Jewell says the subsidy has allowed him to hang on to his 58 full-time staff at Fox Glacier Guiding, but 97 percent of his customers are from overseas.

He told RNZ reporter Jordan Bond the budget announcement took immediate weight off his shoulders knowing his staff's jobs are secure for longer.

The government is being told it must do more if it wants to stop a big spike in the number of families ending up in poverty because of Covid-19.

Treasury is forecasting unemployment to hit 10 percent by September and the number of people on the main unemployment benefit to double.

Child poverty is also expected to rise.

Despite that, yesterday's budget did not include any further increases to benefit levels or reform of the welfare system.

Trevor McGlinchey from the Council of Christian Social Services told RNZ social issues reporter Sarah Robson more needs to be done to help those falling into hardship.