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The relevant Ministries of Labor and Finance are working on subsidy scenarios of 40% to 60% of the employee’s loss of salary, which will be part-time or rotating.
Starting in June and with national resources, at least during the first period, the employment support program is expected to start on the basis of the German Kurzarbeit model, with a subsidy of part of the wage loss that employees will have if they enter a part-time or rotating job. Financial staff are under intense pressure and public appeals from various industries and employers who, due to strict restrictions on their reopening, consider that both padlocks and dramatic increases in unemployment are inevitable.
The process of approval of the European SURE program by community organizations seems to be delayed and, now, according to the secure information of “K”, the Ministry of Finance is planning the next step, with national resources. They estimate that around 250 million euros per month, over the next two months (June and July), could be used to support workers who will move from full to flexible employment. Depending on the potential of the economy and the evolution of the pandemic, which is controlled day by day, the relevant Ministries of Labor and Finance are working on subsidy scenarios of 40% to 60% of the loss of the employee’s salary that will be on time partial or partial. rotation work. Respectively, the sectors in which the program could initially be implemented are examined, as it is expected to be directed at sectors such as industry, manufacturing and retail. The Ministry of Finance indicates that tourism and catering will be included in the program, in combination with other actions, in the context of a comprehensive package of interventions.
The program will cover 40% -60% of the net salary loss due to the reduction of working hours, as well as the respective insurance contributions. If the money is also insured by the European SURE program, the horizon for its implementation may reach the end of the year.
For an employer to be included in the program, it must meet certain conditions, which are likely to be based on insurance and tax awareness, and there may be some kind of job security clause (for example, keeping the same number of employees in deal).
As revealed by “K”, the program builds on proven practices that still apply in Europe, such as the Kurzarbeit program in Germany, in which 470,000 companies applied last March, when the health crisis erupted, resulting in , 9 million employees have joined the program. However, in our country, it is estimated that around 1 million private sector workers could gradually join. The total estimated amount that our country can claim from the total of 100 billion euros of the European program is approximately 1.4 to 1.5 billion euros, provided that the European Commission borrows from the markets a total of € 100 billion, with a 25% guarantee from the Member States.
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