Finance Minister Grant Robertson heads to Australia to talk Covid-19 response with Aussie Treasurer

Finance Minister Grant Robertson. Photo / Mark Mitchell

Finance Minister Grant Robertson will fly to Australia tomorrow to meet with his Australian finance counterpart to discuss both countries' economic response to the Covid-19 pandemic.

The trip comes at a time when Australia has earmarked billions of dollars of Government spending to help limit the economic damage of the virus' spread.

Robertson has also signalled a Government spending package and has unveiled some details.

But the main thrust and focus of the package, including how much the Government is planning to spend, won't be revealed until next month.

In a statement this afternoon, Robertson said he would be meeting with Australian Treasurer Josh Frydenberg tomorrow.

He will also be meeting with business leaders to discuss the economic impacts of Covid-19, which the World Health Organisation this morning (NZ time) declared a pandemic.

"As we respond to this global health crisis it is important to keep in regular contact with our closest neighbour and trading partner," Robertson said.

Robertson and Frydenberg will "compare notes" on how the two economies are reacting to Covid-19's spread, as well as plans to get people through the outbreak.

The Australian Government has already made swift moves to combat the economic impact of Covid-19.

This morning, Australian Prime Minister Scott Morrison announced that more than six million Australians will be getting a cheque for A$750 (NZ$775) as part of a $17.6 billion stimulus package.

"The biggest beneficiaries of that will be pensioners," Morrison said.

"They comprise around half of those who will receive those payments, but they also will be extended to those in family tax benefits, which obviously goes to those in earning households,"

In his statement, Robertson acknowledged the spending plans, noting that New Zealand had already got "ahead of the curve" with its $12 billion infrastructure spending package, announced earlier this year.

The Ministers will also discuss the economic relationship between New Zealand and Australia, as well as the opportunities for the further deepening of these ties.

Robertson is also meeting with other senior officials and economic leaders while in Canberra.

He will return to New Zealand tomorrow evening.