Andrea Vance
Just a week ago it was all so different. We were scoffing at those squabbling over the last packs of loo roll. The virus, and the panic has now accelerated frighteningly quickly. Our borders are closed, the global economy is tanking, officials are actively discussing shutting schools and thousands of people are poised to lose their jobs as tourism grinds to a halt. Some of us will lose loved ones.
It’s incredibly bleak and likely to turn our lives upside down.
But, there is one sliver of light. Most New Zealanders are decent folk and communities have rallied around each other.
From fetching groceries to establishing priority shopping hours for the elderly, staying home at even the slightest hint of risk or delivering care packages to those who have cut themselves off.
In an organic wave of solidarity most Kiwis pulled together for the greater good: to flatten the curve and stop the spread of a disease that threatens the lives of our most vulnerable.
The willingness to do the right thing shows New Zealanders are socially responsible. If businesses can’t keep people safe, they have shown they are ready to close voluntarily, and at great personal cost.
The Government recognises this decency will have to be repaid. A compensation package and a more flexible approach to tax collection will go a long way to keeping businesses afloat and people in jobs.
Businesses and households hit by Covid-19 should also expect the same fair play from banks, insurers and utility companies.
A decade ago governments across the world bailed out banks in the Global Financial Crisis. Like the rest of us, those banks now have a responsibility to behave with decency and fairness.
As the dollar drops, and normal trading routes are disrupted, prices are going to rise. For a time, many of us are going to struggle, to pay bills, rent or repay mortgages – especially the self-employed and contractors who aren’t entitled to sick leave, redundancy or other benefits.
Normal credit rules should not apply for viable businesses and mortgage holders temporarily reeling because of the short, sharp shock from the pandemic. They should give people breathing space, rather than breathing down their necks.
In the same way we are showing more kindness to each other, leniency should apply to those struggling to meet their loan agreements or pay their power bills.
Insurance companies should not be quibbling over technicalities when reimbursing losses, whether because of cancelled travel or trading losses.
Now is not the time for grasping greed, pricegouging or selfishness. If we are going to survive this crisis then everyone – including corporates – must behave as society expects them to.
Normal credit rules should not apply for viable businesses and mortgage holders temporarily reeling because of the short, sharp shock from the pandemic.