Fears more businesses will close if the Government doesn't guarantee their incomes
Fears more businesses will close if the Government doesn't guarantee their incomes
24 March 2020
Finance Minister Grant Robertson is looking putting some loan guarantees in place.
However, former Reserve Bank economist Michael Reddell says that won't be enough, because it's not viable for a lot of firms to take on more debt.
He says guaranteeing incomes, for a year for example, would give firms the confidence to take time before they wind down.
Reddell says as it is, the number of firms that are going to close will escalate by the day.
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