41643 (2024). Hon Dr Ayesha Verrall to the Minister for Economic Development

41643 (2024). Hon Dr Ayesha Verrall to the Minister for Economic Development: In the Minister’s departments, ministries and agencies, if any, what are the total costs of staff redundancies, if any, between 27 November 2023 and 10 July 2024?

Hon Melissa Lee: At NZTE, the total cost of staff redundancies between 27 November 2023 and 10 July 2024 was $2,878,830. This relates primarily to changes implemented at NZTE towards the end of 2023 in response to the end of NZTE’s Covid Response and Recovery Funding. These changes were agreed before Election 2023. NZTE had not yet paid any redundancies for its most recent cost reductions by 10 July 2024. The cost of the most recent round of redundancies is not yet finalised. I am advised that the total cost of staff redundancies at the Ministry of Business, Innovation and Employment between 27 November 2023 and 30 June 2024 was $10,147,142.08. This cost includes employees that left MBIE at the end of June but their severance payment was processed in the first pay in July. With regard to New Zealand Growth Capital Partners I am advised, for privacy reasons, that this information cannot be provided.