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Home Coronavirus Cabinet agrees to widen Dutch Business Support Programme

Cabinet agrees to widen Dutch Business Support Programme

Cabinet members have agreed to grant monetary aid to Dutch businesses facing trouble meeting their budget because of the pandemic to support sustainability industries at large, inclusive of trader and transportation firms.

All businesses which have undergone more than 30% of loss, owing to the outbreak will be qualified to apply for subsidies under the TVL system to support the firms meeting their fixed costs like rent and electricity bills. The amount of aid can maximize up to €90,000. The procedure will only be observed in the final quarter of the year and will cost the national reserve around €140 million.

This support package was broadcasted at a press release addressed by the three cabinet members, Eric Wiebe’s minister for fiscal affairs, Wouter Koolmees head of the public affairs, and Wopke Hoekstra minister of finance. The new package is being granted to overcome the economic unpredictability which came as the aftermath of coronavirus.

Hoekstra told that “The 3% GDP growth prognosticated for next year determines whether there is a lockdown or not,” he continued “as an economy, we are in many stern circumstances and new financial costs are inevitable. There will be an effect on employment, businesses, and the national reserves.” Heads of the department for health have also approved that cafes, pubs, and restaurant owners will be privilege by an average of €2,500 in recompense for the stock they are unable to use because of the momentary closure and funds on assembling their sites corona-proof. The sum that will be granted, will however rest on their turnover.

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Event organizers will also be welcomed to apply for the subsidy, an additional sum averaging about €14,000 and €40m has kept aside to help theatres which do not get grants but are equally struck by coronavirus. In addition, cabinet members are working on precise plans to maintain social distancing in shopping centers and on reassuring people to take provisional jobs to bail out sectors such as health care and education. measures to allow businesses to take a ‘time out’ period so may overwinter rather than register for bankruptcy are also being processed, representatives told. More facts about what these will require will be available in the approaching weeks.

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