Weekly Digest – 10 March 2022

Isolation Period Reduced to 7 Days

The isolation period for COVID-19 cases and their household contacts is reducing to one week, down from 10 days.  Recovered cases won’t need to self-isolate if they become a household contact within 90 days – an increase from the current 28 days – after having the virus.

ANZ: Inflation Forecasted to Hit 7.4% in Q2

The ANZ bank said it now expects annual headline inflation will peak at 7.4% in the second quarter, as the war in Ukraine sends commodity prices skyrocketing.

KPMG: NZ Banks Made Over $6 Billion in 2021

New Zealand banks collectively made more than $6 billion in 2021, according to the Financial Institutions Performance Survey report by KPMG.  Net profits rose nearly 48% last year to hit $6.13 billion– the first time it had gone over the $6-billion mark since KPMG began monitoring the sector.

Change in Leave Support Scheme

The Leave Support Scheme is now a weekly payment, instead of a two-week payment amid the change in the periods of self-isolation.

This scheme is available to employers and the self-employed to help pay their employees who have been advised to self-isolate because of COVID-19 and can’t work at home during that period.

The COVID-19 Leave Support Scheme is paid at the rate of:

  • $600.00 a week for full-time workers who were working 20 hours or more a week.
  • $359 a week for part-time workers who were working less than 20 hours a week.

You can learn more about it here.

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