But on Thursday it might have moved too quickly, after an error meant that the wrong piece of legislation was introduced to Parliament and then passed within hours, accidentally bringing into law a multi-billion dollar loan scheme. The bill meant to "throw a lifeline" to small and medium businesses and was passed through all stages of the lawmaking process in an afternoon. But eagle-eyed tax enthusiasts spotted the bill did much more than that — it allowed the IRD to loan money to small businesses. He said the Government had always intended to bring the loan scheme forward. Like Goldsmith, he agreed with extra support for small businesses, but said the loan scheme could have done with a few days in a Parliamentary select committee.

Source: Stuff May 01, 2020 03:21 UTC