How are economic aid evolving for companies and their employees?

The Minister of the Economy says he commits 4 billion euros per month in supporting businesses, with some changes at the start of the year.

Still no reopening in sight for bars and restaurants, cultural venues, ski resorts, sports halls, etc., and no visibility: Thursday night’s press conference was another tough blow for ski professionals. stricken areas.

But rest assured, Bruno Le Maire guarantees them full support. He also announced additional aid measures, in addition to maintaining those already in existence.

Solidarity Fund

The first concern the Solidarity Fund, with three “major changes”:

  • The money earned on take-out and home deliveries will not be taken into account in the calculation of the amount of aid, from December 2020.
  • The suppliers of cafes and restaurants will be able to benefit from a percentage aid (up to 20%) from a 70% loss in their turnover. The ceiling of 50 employees is no longer retained.
  • Companies with a turnover of at least 1 million euros per month will have their fixed costs covered by the State from January to June, with a ceiling of 3 million euros.

The government has also decided to make a “special effort” for winegrowers, victims of measures related to the health situation, but also of American sanctions: they will be granted aid of up to € 200,000 per month when they suffer a loss of turnover of at least 50%.

State guaranteed loan

Another change concerns the loans guaranteed by the State, granted in March 2020 and whose repayments were therefore due to start soon. These may be postponed for an additional year.

What was previously made possible by some banks is becoming a “legal solution”.

According to Bruno Le Maire, the banks are also committed to “consider favorably any request for a moratorium or postponement of deadlines” for other loans.

Partial activity

Another part of the economic component of Thursday’s press conference, this time developed by the Minister of Labor Elisabeth Borne, focused on partial activity, which currently concerns 3 million employees.

Developments are announced from next month. If 100% payment of remuneration continues for companies closed totally or partially, it will be maintained for “protected sectors” as soon as turnover has fallen by at least 80%. If applicable, a 15% remainder will be applicable from the end of February.

Elisabeth Borne also announced a 40% remainder charge for all other companies from March, asking them to “think about the solution of long-term partial activity”.

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