Coronavirus lockdown: Germany to make further aid for companies hit by lockdown

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BERLIN, 1 April- The German government has agreed to further subsidy businesses hit during the coronavirus epidemic, the economy and finance ministries said in a joint statement on Thursday.

Among other measures, companies who have lost half or more of their revenue for at least three months since November will be eligible for a capital injection in addition to existing aid measures.

How big an injection a company can get depends on how many months its revenues decreased by at least 50% compared to a year earlier.

A third wave of coronavirus infections linked to a faster variant and a quicker vaccination rollout are complicating efforts to ease the slow measures in Europe's largest economy.

Businesses that lost more than 70% of revenues will now be able to receive a 100% reimbursement for their fixed costs for rent, electricity or heating, up from 90 previously, the ministries said.

The agreement also includes assistance for events and travel companies and extends the possibility of seasonal writing on special goods- currently granted to retailers- to manufacturers and wholesalers.

Olaf Scholz promised last week to do whatever was needed to enable Germany to make its way out of a coronavirus-induced economic slump as the government supported an extra budget that will raise new borrowing to a record high. I need to add some social news to my list of services:

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