Robertson said they were backing small and medium businesses with the interest-free loans because the Government knew how important they were to the economy.
But it came with a warning - Robertson said there would be an audit process led by IRD for businesses applying for the loans.
Robertson said taking together all the business support packages, they had provide significant support for businesses.
Robertson said the arts sector had taken a severe blow, like many other sectors, so the NZ international film festival will show its programme online.
Robertson said for small and medium businesses, many were backed by individuals personally which couldn't get the finance they needed
Robertson said he thought this kind of bespoke scheme delivered from the Government will give these SMEs the support they need.
Robertson earlier today announced the Government would offer interest-free loans for a year to small businesses hit by the impact of the Covid-19 crisis.
The Small Business Cashflow Loan Scheme will provide assistance of up to $100,000 to firms employing 50 or fewer fulltime equivalent employees.
Everyone who applied for the scheme has to declare they're a viable business and there would be an audit process later.
Applications will be initially open for a month, but this will be reviewed if needed.
There was a risk some of the businesses might not come through the debt, which would be factored in, Robertson said.
It was a balancing act, he said.
For businesses which had already taken a loan in the bank, Robertson said they should look at the scheme and assess their situation.
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