Six months ago, the finance minister, as he himself put it, took out the "bazooka" and provided more than one hundred billion euros in aid in various funds. Much of it has not yet been used.
In the Corona crisis, according to a media report, the state aid programs for companies have not yet been exhausted by far. Of the 25 billion euros that the federal government has earmarked for direct payments to small and medium-sized companies, just under six months after the resolutions on the first rescue package, only 14.3 billion euros were used, as the "Frankfurter Allgemeine Sonntagszeitung" cited reported to government circles.
Also of the guarantee of 100 billion euros, with which the state development bank KfW guarantees bridging loans from the house banks, only 44.2 billion euros were approved until last week. On Tuesday afternoon, the coalition committee of the CDU, CSU and SPD meets to advise on readjusting the Corona aid, among other things. In addition to an extension of the short-time work allowance from 12 to 24 months, the aim is to evaluate further aid measures.
Finance Minister Olaf Scholz had originally announced the measures on March 13 as a "bazooka" against the impending economic slump, and at the beginning of June they were modified as part of the economic stimulus package. For autumn and winter, new business slumps are expected in individual sectors such as gastronomy.
As the "Welt am Sonntag" reported, the federal government approved bridging aid for around 7,900 companies and the self-employed in full or in part by August 8th. This emerges from a small request from the Greens to the Federal Ministry of Economics, which the newspaper has. A total of around 160.5 million euros have been approved so far.
The little ones get the most
The bridging aid for medium-sized companies has been available since July. According to plans by Federal Economics Minister Peter Altmaier, they should be extended until December. In terms of numbers, the largest proportion went to small businesses with up to nine employees. There, 4253 companies benefit from the aid. Followed by 2032 companies with up to 49 employees.
The largest financial volume went to companies with up to 49 employees. A total of 73.4 million euros went to the corresponding companies, followed by the micro-enterprises with 51.6 million euros. Bigger companies also got money. 343 medium-sized companies with up to 249 employees received aid worth 27.8 million euros. Money also flowed to solo self-employed and freelancers. Almost 1,100 self-employed individuals received 4.7 million euros. And a good 600 freelancers received 4.8 million euros.
The bridging aid is subsidies for the company's fixed costs, which are based on the amount of the decline in sales. A maximum of 80 percent of the fixed costs are reimbursed – this includes rents for business premises, leasing installments and insurance. There is a maximum of 150,000 euros per company for three months.
The bridging aid with a planned 25 billion euros is the cornerstone of the 130 billion euro economic stimulus package, alongside the VAT cut that has already come into force. In order to prevent misuse, companies must submit applications with the help of tax consultants, auditors or sworn accountants.
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