German Government dishes out over a billion euros in Corona special aid to freelancers and companies
Financial assistance of 1.16 billion euros has been officially moved, according to Altmaier
In an effort to support those affected by the ongoing pandemic, Germany's federal government has shelled out over 1.16 billion euros in advance payments through the November aid scheme. As per Economics Minister Peter Altmaier (CDU), this move comes in response to the renewed lockdown and the need for partial compensation of turnover losses, particularly for hospitality businesses [1].
Initial applications for this aid have totaled 260,081, with 64,660 coming from freelancers. However, due to processing delays, regular payments under the November aid are only set to commence in January [1]. Despite this, advance payments—which increased from 10,000 euros to a maximum of 50,000 euros on December 11—have already been approved since November 27 [1]. Freelancers can receive a maximum of 5,000 euros under this scheme [1].
As we approach December, applications for the December aid have commenced, with the first advance payments expected to be processed by early January [1]. The minister also indicated that, in January, advance payments for the bridging aid III will follow to help entrepreneurs and companies still affected by closure-related difficulties in the new year [1]. For the period from January to June, a so-called bridging aid III has been agreed upon, with advance payments of up to 50,000 euros available under this scheme [1].
Controversy over the payment process's slowness has been addressed by Altmaier, who pointed out that since the start of the pandemic, economic support amounting to 71 billion euros has been provided to companies, in addition to a significant amount in short-time work benefits [1]. Altmaier emphasized the government's commitment to helping businesses and employees navigate these challenging times [1].
It's important to note that the specific distribution of aid and the requirements for advance payments related to the November and December Corona special aid for freelancers and companies are yet to be clearly outlined [2]. For more detailed information on this matter, consult official government sources or the relevant ministries responsible for economic support in Germany.
[1] - Funke media group's Wednesday editions[2] - German government Corona special aid details not found in search results[3] - OECD economic surveys for Germany (provides broader context about economic policies and support measures during the pandemic)
In the ongoing effort to support various sectors impacted by the pandemic, the government has expanded advance payments to freelancers and businesses, providing up to 50,000 euros in aid. To further assist entrepreneurs and companies facing challenges in the new year, advance payments for the bridging aid III are scheduled for January.
