Solidarity fund, partial unemployment, subsidies … the government juggles with financial aid

Despite the arrival of the second wave of Covid-19, despite the establishment of a curfew imposed in Ile-de-France and in eight metropolises seriously affected by the pandemic, despite the fears of households and the anger of companies, the economy will hold, wants to believe the government. To those who still doubted it, the Prime Minister, Jean Castex, accompanied by the ministers on the front line in the management of the pandemic, including Bruno Le Maire, in the economy, confirmed Thursday, October 15 that he was just as observing the curve contaminations than unemployment and bankruptcy. And that everything would be done to avoid the sinking of the activity during the four to six weeks of curfew.

“To a massive crisis, the State provides a massive response”, assures Bruno Le Maire. “The“ whatever it costs ”system set up at the start of the crisis remains valid (…) We will continue to support businesses facing the crisis. [Cela a un coût, certes, mais moindre] that if we had to deal with hundreds of thousands of bankruptcies and millions of additional unemployed ”, he added, after detailing the support measures estimated at 1 billion euros. “Yes, there is a cost to public finances (…). But, forgive me, what a human cost! There will be tragedies, and it will not be seen in the economic statistics ”, added Mr. Castex.

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The arsenal deployed, similar to the spring devices during containment, aims to allow restaurateurs, cafetiers, entertainment companies and businesses affected to hold on. Thus, in the areas affected by the curfew, companies with less than 50 employees who have lost 50% of their turnover will have access to assistance of 1,500 euros from the solidarity fund. For companies in the hotel and restaurant sector, the subsidy will rise to 10,000 euros, with no ceiling. The measure, planned to bail out hard-pressed businesses, is in addition to various exemptions from social charges, access to loans guaranteed by the State until June 2021, and no longer December 2020, and direct loans from the ‘State, “For those who have knocked at all doors in vain”, promises the Minister of the Economy. The use of partial unemployment with 100% coverage for the employer is also planned.

“The numbers are wrong”

Bruno Le Maire may recall that there is no“Magic money”, he promises to listen to all the specific requests which could be added to this artillery of crisis in order to respond to the anxieties of small bosses unable to honor the rents or the paid vacation due. Putting on the costume of protector of this suffering France “Get tired Of the consequences of the pandemic, the tenant of Bercy juggles with the billions and ensures that everything is planned: an envelope of 9 billion euros has been budgeted for the solidarity fund, of which 6.5 billion have been disbursed, a- he pointed out. The measures intended for those who could fall into extreme poverty, such as the exceptional bonuses granted to beneficiaries of active solidarity income and housing assistance, will be detailed on Saturday.

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