Wellbeing Budget 2021

Securing
Our Recovery

Business, Science and Innovation

Reprioritisation of Funding - Business Debt Hibernation Scheme

This portion of the COVID-19 Response and Recovery Fund is no longer required as the capital investment is less than expected, which therefore resulted in less depreciation and capital charge cost incurred in 2020/21 and future years.

Vote 2020/21 2021/22 2022/23 2023/24 2024/25 Operating
Total
Capital
Total
Business, Science and Innovation (0.144) (0.122) (0.122) (0.122) - (0.510) (0.387)

Reprioritisation of Funding - Increasing Official Assignee Resources to Manage Growth in Insolvency Cases Due to COVID-19

This portion of the COVID-19 Response and Recovery Fund was no longer required because the volume of personal insolvency cases for 2020/21 did not materialise as expected.

Vote 2020/21 2021/22 2022/23 2023/24 2024/25 Operating
Total
Capital
Total
Business, Science and Innovation (2.026) - - - - (2.026) -

Reprioritisation of Funding - New Zealand's Events Support

This portion of the COVID-19 Response and Recovery Fund was not committed through a contestable process run by the events sector and is therefore no longer required.

Vote 2020/21 2021/22 2022/23 2023/24 2024/25 Operating
Total
Capital
Total
Business, Science and Innovation (0.300) - - - - (0.300) -

Reprioritisation of Funding - Tourism Sector Recovery Fund (Strategic Tourism Assets Protection Programme Loans and Inbound Tour Operator Loans)

This portion of the COVID-19 Response and Recovery Fund relates to loan funding offered to the tourism sector but was declined and therefore is no longer required.

Vote 2020/21 2021/22 2022/23 2023/24 2024/25 Operating
Total
Capital
Total
Business, Science and Innovation (1.500) - - - - (1.500) (31.444)
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