Alliance has already repaid $21m of the $34m it received, but retained the balance as it assessed the impact of the crisis on its accounts and whether that would meet the Government’s criteria.
Chair Murray Taggart announced just before Christmas that it will now refund the full amount it received to the Ministry of Social Development.
“From the outset, Alliance has been clear that we would only use the wage subsidy in the way it was intended by the Government and our previous repayments reflect this commitment,” he said.
“Following the filing of our company accounts (in November), the Alliance Board believes the co-operative is in a position to repay the remaining balance.
“We acknowledge the support and certainty the Government provided to help us keep many of our people in jobs.”
Separate to the wages subsidy, the co-operative has retained $1.9 million in Leave Support Scheme payments for employees required to self-isolate or were unable to work, he says.
