The criteria for the new wage subsidy announced today is similar to the current extension, which was to lapse on September 1. "This is a very focused extension of the wage subsidy scheme," he said. How the schemes will work• The new wage subsidy is forecast to cost about $510 million and cover 470,000 jobs. • The costs are expected to be covered by the previous underspend on the extended wage subsidy. • The Ministry of Social Development has advised the new wage subsidy scheme will be open for applications by the end of the week, Friday 21 August.

Source: Otago Daily Times August 17, 2020 03:00 UTC