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Finance Minister Olaf Scholz on Shutdown: "We'll help them get through this too"

2020-10-29T15:02:54.029Z

The government wants to invest ten billion euros to cope with the new corona measures. According to Ministers Altmaier and Scholz, these are "previously unknown support services of this magnitude."



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Federal Minister of Economics Peter Altmaier (CDU) and Federal Minister of Finance Olaf Scholz (SPD): "Klotzen once more"

Photo: Markus Schreiber / AP

Federal Finance Minister Olaf Scholz (SPD) and Federal Economics Minister Peter Altmaier (CDU) have promised comprehensive support to companies affected by the new restrictions.

It is clear that many companies had hoped for good business in November, said Scholz at an appearance with Altmaier.

The new measures hit them hard.

"We're helping them to get through it," said the Federal Minister of Finance.

According to Minister for Economic Affairs Altmaier, the goal is "once again, not to mess up, but to pound up".

The support measures at a glance:

  • Solo self-employed and companies with up to 50 employees are to get their lost sales to the extent of 75 percent of sales from November 2019.

    For larger companies it is a little less, said Scholz.

    Short-time work benefits received should be offset against the new aids.

  • For companies that did not exist in November of last year or that do their main business at other times of the year - such as concert organizers - sales from comparable months should be used as a basis.

Scholz said it was about "massive, previously unknown support services of this magnitude".

The fact that the partial closure of restaurants, hotels and many other economic sectors is limited to a few weeks enables the federal government to provide this aid.

Ten billion euros should be invested in one month.

Aid should flow immediately and unbureaucratically.

Scholz again campaigned for popular support.

"The situation is serious - even if it doesn't feel like it to everyone."

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dab / dpa / Reuters

Source: spiegel

All business articles on 2020-10-29

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