Business South is canvassing its members for their views as it prepares to make a submission on the Government’s proposed Income Insurance Scheme, which would offer financial support to workers who are made redundant. 

The proposed scheme would provide workers with 80% of their income for up to seven months in the event they lose their job through no fault of their own.  

The Government plans to introduce the redundancy scheme in a bid to improve workforce resilience and provide a buffer against any future economic and policy shocks.

New Zealand and Australia are the only countries in the OECD that do not already offer such support. 

“There are clearly strong opinions on the scheme and we encourage business to voice these and work with Business South so we can advocate on their behalf,” says Business South Chief Executive, Mike Collins. 

Business South will make a submission to the Government on behalf of southern businesses before the consultation period closes on April 26, 2022 and will consult widely to ensure the submission accurately reflects the depth and breadth of views among the southern business community. 

“The aim is to provide different opportunities for businesses to engage in this process, and we strongly encourage them to do so,” says Mr Collins. “It’s important to share the voices of southern businesses, so the Government is aware of their views and any impacts they foresee for their operations.” 

Businesses and individuals can have their say on the New Zealand Income Insurance Scheme here.