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Finance Minister Scholz has once again assured that economic aid will be paid for as long as it is necessary due to the coronavirus pandemic. Since the beginning of January, companies can also expect the payment of December aid.
According to Finance Minister Olaf Scholz, financial aid for the economy must be paid for as long as it is needed. “Financially we can endure the closure for a long time because we have a robust economy with very efficient and internationally competitive companies,” the SPD politician told the newspapers of the Funke media group. “We do what is necessary while it is necessary.”
December aid payment from the beginning of January
It is now clear when businesses affected by the crown lockdown can expect December aid to be paid: “Under the current status, extraordinary financial aid advances will flow in December no later than early January 2021.” said the Federal Ministry of Economy. Industry representatives had repeatedly complained about the slow disbursement of aid.
Advance payments for November aid have been flowing since November 27, according to the ministry. To date, 227,508 applications have been submitted, and as of December 18, around 983 million euros have already been paid. The payments were “a strong support for many entrepreneurs in these difficult times,” the statement said.
With the so-called November and December grants, the closures of both gastronomy and leisure and cultural facilities are compensated.
Bridge aid III replaces fixed costs
Although these payments can reach up to 75 percent of the billing for the same month last year, the new bridge aid III should mainly cover up to 90 percent of the fixed costs of those affected. They apply for the period between January and the end of June 2021.
Payments are expected to start in January, the ministry said. There should be a simplified application procedure. Bridge III aid can be used not only by companies, but also by affected people, such as the self-employed in the arts and culture sector.
