Labor will expand the ‘lifeline’ lending program to small businesses

Labor will expand the 'lifeline' lending program to small businesses

Labor’s annual meeting, which began yesterday, has largely gone interactive in a first for the group.

Labor campaign chair Megan Woods said several people would watch a livestream as well as Wellington leaders would be present.

Nevertheless, Prime Minister Jacinda Ardern is at Te Papa for a speech by her leader to the party that began a short time ago.

Most of the speech was a stocktaking of the government‘s reaction to the economic recovery program of Covid-19 and Labor.

Ardern told the audience that if the decision is taken to not save today, then debt of some kind would threaten the future.

She revealed today that the party plans to generate 2000 new jobs as part of a water clean-up program, across 23 initiatives.

$1.1 billion are a mark for nature-based work in the Program.

Ardern said the DOC has also under way a variety of conservation initiatives, such as clearing wild pine, so now is the time to pick up the pace.

Labor supports loans

Furthermore, Labor is planning to extend the interest-free Small Business Cash Flow Loan scheme until year end.

The “much needed lifeline” applications were set to close on July 24, Ardern said.

Thus far, there have been more than 90,000 proposals, including $1.5 billion in loans taken out.

Each loan has had an average value of around $16,700.

“That means that companies that are doing well today, but who may face problems with cash flow farther down the road will also have access to it,” she said.

Ardern ended her speech by pointing to the “five million squad” and the need to keep up the momentum.

“Let’s keep rolling our plan out, let’s continue to rebuild, let’s keep on moving,” she said.

Until Ardern ‘s address today , the group announced it would take the weekend to focus on the global pandemic.

There was a need to retain interest in maintaining the existing momentum of the government moving, Ardern said. Her speech will address employment , training, and helping companies through recovery.

Labor declared yesterday that Let’s Keep Going is its motto for September ‘s election.

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