"I don't think anyone thinks it's going to be the same again and certainly not the same again for many, many years to come."
The package includes a programme that will provide advice and support for businesses to pivot towards the domestic and Australian market, hibernating a firm, or other options.
It includes a programme to identify and safeguard strategic assets.
Future thinking
A minister's group will be created to oversee the package and a public-private taskforce will lead thinking on the future of tourism in New Zealand.
The $400m will also fund a domestic tourism campaign to stimulate domestic tourism as well as some funding for international markets, despite the border closure.
The sector will also benefit from the 12-week extension to the wage subsidy scheme.
Under the scheme from June 10, businesses that have suffered - or expect to suffer – revenue losses of at least 50 per cent for the 30-day period prior to the application date versus the nearest comparable last year will be eligible for the extension.
The big-ticket items of today's budget include:
• A $3.2 billion extension of the wage subsidy scheme
• A $1.2 billion railway package
• A $3 billion infrastructure investment package
• A $1.6 billion trades and training scheme
• A $220 million expansion of the school lunches initiative
• A $400 million targeted tourism support fund
• A $830 million disability support package
- BusinessDesk
