Differing responses to wage subsidy scheme

The country’s meat processors have followed two distinctly different paths in response to the government’s wage subsidy scheme which is available to all businesses for 12 weeks, providing they can substantiate a 30% drop in revenue during the period. Silver Fern Farms, Alliance, ANZCO, Taylor Preston and Blue Sky Meats have all claimed the subsidy to varying extents, whereas AFFCO, Greenlea and Wilson Hellaby have decided it is not justified or necessary, at least partly on ethical grounds.

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Debt is good under some circumstances

After my column last week about meat industry debt levels, Keith Cooper, CEO of Silver Fern Farms, took me to task for incorrectly reporting the situation with Silver Fern Farms’ debt facility.