Im not suggesting we pay everyones wages. COVID-19 is an Act of God as were Whaakari and EQ's. But anyway, if its better to pay the full dole thats ok with me, probably easier to manage as well as being more costly. But please dont think I am in favour of handouts to business. They are social welfare funds for the employees, that are out of a job no fault of theirs or the employers. Will tax be raised to 70% to fund this? I'm not really sure. These are employees that are unemployed, so they will all get the dole, they will all be standard BAU unemployment payments.
There will be other measures thats already been sorted with the banks.
The problem is going to be mortgages on these high priced houses that people have been buying, should people lose their jobs. I wonder if mortgage insurance will cover this due to the circumstances? Are landlords going to be kicking people out who can't pay rent due to loss of work, if they then cqan't afford to pay their rent?. Then you have people who own Airbnbs who have mortgages, who need tourists to rent them, which will largely dry up. I had read that there are nearly 40,000 houses rented out on Airbnb type sites in NZ, which sounds large. I guess one good side is that they may sell them, and they go back into the housing pool for people to live in, due to us already having a housing crisis. I listened to one financial expert yesterday who said that he does think house prices will be affected by this in some way.