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EU Commission approves Austria’s request
APA / BARBARA GINDL / SYMBOLIC IMAGE
Austrian companies will receive support with another four billion euros. (PICTURE SYMBOL)
Posted: Sep 21, 2020 3:53 pm
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The EU Commission has given the green light to another 4,000 million euros in aid to the economic crisis for Austrian companies. Austria can use the money to award grants or provide guarantees, up to € 800,000 per company. As the commission announced on Monday, Austria submitted a new application last Thursday.
Going forward, under certain circumstances, micro and small businesses with up to 49 employees that were in financial distress as of December 31, 2019 may also benefit. The Commission announced that aid will be notified on the basis of the “economic crisis clause” (Article 107 (3) (b) TFEU) in combination with the EU aid temporary framework.
Fixed cost subsidy dispute
Last time there was a dispute between the EU Commission and Finance Minister Gernot Blümel (ÖVP) over the second phase of the fixed-cost subsidy. Eight billion euros were reserved for the first phase; together with the second phase, the total budget should increase to twelve billion euros. The first phase of the fixed cost grant is based on the “catastrophe clause” (Article 107 (2) (b) TFEU). Blümel also wanted the disaster article for the second phase.
(Those: APA)
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