The Government has signalled $62.1 billion of funding to support the COVID-19 response and recovery:
- The Government announced an initial support package on 17 March 2020 totalling $12.1 billion.
- In Budget 2020, the Government established the $50 billion COVID-19 Response and Recovery Fund (CRRF).
The CRRF is a funding envelope for budget management purposes. It is not an actual sum of money ring-fenced in the government's accounts, rather, it provides an indication of what the Government would be comfortable with spending in response to COVID-19, if necessary.
As at 1 February 2021, $10.2 billion of the CRRF remains unallocated. The remaining balance is set aside for any future health and economic response needed in the case of a further COVID-19 resurgence.
More details on how funding has been allocated
Information on the Government’s initial $12.1 billion funding allocation can be found at: https://www.beehive.govt.nz/release/121-billion-support-new-zealanders-and-business
A list of announced initiatives funded from the CRRF as part of Budget 2020 (in May 2020) can be found at: Summary of Initiatives in the COVID-19 Response and Recovery Fund (CRRF) Foundational Package
A list of announced initiatives funded through the July Package can be found at: Summary of Initiatives in the COVID-19 Response and Recovery Fund (CRRF) July Package