COVID-19 re-emphasised the importance of the balance sheet. The Government balance sheet was in good health prior to COVID. At the end of December 2019, net core Crown debt was 19 percent of GDP, while net worth was $143.1 billion. The strength of the balance sheet, therefore, provided the Government with the options in how it chose to respond to the pandemic, including the ability to provide significant financial support to the private sector and indirectly to households through policies such as the wage subsidy and the COVID-19 relief support payment.