Now Reading
Coronavirus: Government Announces Business Support Measures

Coronavirus: Government Announces Business Support Measures

The Minister of Labor Muriel Pénicaud and the Minister of the Economy Bruno Le Maire gathered yesterday Monday March 9 at a press conference in Bercy to present the reinforced measures that would allow businesses to better resist the epidemic of coronavirus.

By Luxus Plus

 

Faced with the declared “severe” impact of the coronavirus – “several tenths of a percentage point of GDP” – according to Bruno Le Maire, the government was quick to announce measures to help businesses on Monday morning, March 9.

 

Among the sectors affected by the crisis, Bruno Le Maire spoke of more or less meteoric declines in turnover affecting restaurants (- 25%), hotels (- 30 to – 40%), and caterers and ‘events up to – 60%. The automotive, aviation and fashion and luxury sectors are even more “structurally” affected.

 

To support these companies put to the test, the Minister of Labor first announced the simplification of the use of short-time working by paying employers a compensatory hourly compensation of 8.04 euros against 7.74 euros previously , or the Smic level. A timely resolution, which comes when nearly 900 companies claimed Sunday evening to have already applied for partial unemployment for more than 15,000 workers.

 

The government also announced that businesses will be able to request the deferral of their payroll taxes and even benefit from tax relief or even a tax cut for those most at risk.

 

Bruno Le Maire also explained that he “mobilized the Public Investment Bank” to support the treasury of small and medium-sized enterprises. The result: loan guarantees increased from 40 to 70% and extended credit maturities.

 

The ministers finally urged all businesses to show mutual understanding. “We want national solidarity to play to the bottom,” insisted the Minister of Economy and Finance.

 

See Also

A series of measures intended to “simplify and strengthen the economic response” to stem the effects of the coronavirus on the economy and save the country from a global socio-economic crisis, with the most deleterious consequences.

 

Read also> Swatch Group CEO sees ‘massive’ temporary hit in China from coronavirus

 

Featured photo: © Twitter @BrunoLeMaire

 

 

What's Your Reaction?
Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

COPYRIGHT 2020 LUXUS + ALL RIGHTS RESERVED

Scroll To Top