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This is happening not only in Lithuania. The fact that the “curfew” was introduced for the first time since World War II in late January this year in the freedom-loving Netherlands.
We need to prepare to return to a life in which the coronavirus and the like will always be close to us.
Vaccines offer hope, but the discovery of new mutations in the virus means that the vaccine will have to continue to develop, and tests, masks and disinfectants will be our companions for years to come. Every liberal soul is also concerned that we cannot do without restrictions on our personal freedoms. Those freedoms that you want to recover from the quarantine process as soon as possible.
A new reality
Obviously, we cannot live in quarantine forever. Doctors will always tend to be especially careful with the situation. We understand them perfectly, but we must be prepared to return to a life in which the coronavirus and the like will always be close to us. Therefore, we need to plan for a gradual liberalization of business activities.
In the day-to-day life of the Ministry of Economy and Innovation, more than anywhere else, we feel the growing tension due to the inability of part of the business to work, to earn, as well as the growing shadow. Some entrepreneurs who have started operating in the shadows may not return from there. We do not want a third wave of COVID-19 and we are not proposing a ‘full start’, but we must already participate to get the business back on track with the current situation.
When we came to work for the government 7 weeks ago, it was clear that no one would give us any traditional 100-day period.
To make the return more fluid, we will present the government test compensation for companies on Monday. It will allow small and medium employers to reimburse the costs of employee preventive testing for at least 3 months. We expect 100,000 to use the tool. workers. We have allocated 30 million for this. euros.
What do we do while the quarantine is still strict?
When we came to work for the government 7 weeks ago, it was clear that no one would give us any traditional 100-day period. Lithuania burned. In the Ministry of Economy and Innovation, of the existing business support instruments, we only find the Large Business Support Fund, which no one used. There were no subsidies or credit facilities for the little ones. We had to organize them: act immediately and use the tools and powers that the state has.
Already today, small and medium-sized enterprises (SMEs), as well as those with more than 250 employees but that meet other criteria for SMEs (annual income not exceeding 50 million euros, book value of assets that does not exceed 43 million euros), are eligible for grants, of which 150 million euros. You can apply by filling out the application on the STI page. Applications are verified by the Lithuanian Trade Support Agency. Smaller companies can be supported faster, larger companies slower, because the STI has to program their system additionally and the LVPA has to test it for a longer time. Support will be distributed starting January 20. More than 12 million have already been allocated. received by 5704 companies.
Through Invega, we provide soft loans to companies affected by COVID-19, both small and large. € 30 million has been allocated to this aid measure. euros. Loans have already been approved to 89 companies, 4.4 million have been transferred to them. euros. A further 403 applications are currently being evaluated. By the way, although loan applications for 25 million were received. We know that not all of them will be used immediately; some companies ask for larger quantities than the order allows, or something like that. The maximum amount that can be borrowed is 100,000. The loan conditions are extremely favorable: the interest rate is 0.6%. up to 1.69 percent. No commercial bank will lend for that much money.
We can already see that companies that have suffered nothing from the quarantine restrictions are beginning to apply for the subsidy portfolio.
Businesses also receive downtime allowances from Employment Service employees, and the STI provides the opportunity to defer payment of taxes. Large companies are eligible for the Business Support Fund. The state has transferred $ 100 million to the fund and, by issuing bonds, it will add $ 500 million in the spring.
We can already see that companies that have not been affected at all by the quarantine restrictions, and perhaps even provide fictitious data on the victim, are beginning to apply for the subsidy portfolio. We will not allow such abuse and this week we started a meeting with colleagues from the STI and the Ministry of Finance to find a way to prevent it.
What do we plan for February?
The quarantine has particularly affected tourism, restaurants, bars, event organizers, the entertainment sector, hotels, the beauty industry, sports and the lack of online commerce in non-food products.
Thus, the second package of grants will be limited to those most affected. According to preliminary plans, for those whose billing was reduced by 60%. and more. But it is still up to the government to decide. A narrower circle of beneficiaries will allow a more generous subsidy to be paid, which we hope will help companies cover at least part of the costs incurred. We allocate 50-70 million for this. euros.
We also provide compensation for the market tax and two new measures that are still unusual for the Ministry of Economy:
1) the employee’s trial compensation already mentioned;
2) a subsidy for the self-employed, according to an individual activity or a commercial certificate. We will allocate 30 million for this. and the amount of the benefit will be 100%. 2019 GPM paid. The benefit will be a lump sum, in addition to what the Employment Service pays monthly.
Decisions on these measures are due to be made by the government this week, and administrations are already preparing to start implementing them this month.
The most important thing is that it will not change
It will not be easy to accept the new reality that the pandemic and its negative consequences have brought us. But despite the changes that the virus has brought to our healthcare, economy and education systems, the most important thing will definitely return: we will be able to meet and embrace our loved ones.
And this knowledge will hopefully help us survive this prolonged confusion and uncertainty.
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