Sweden to Reintroduce Pandemic Revenue Support for December -Breaking
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© Reuters. Sweden will reintroduce pandemic revenue support for December(Bloomberg) — Sweden’s government plans to reintroduce support measures for companies whose business is hit by restrictions as the largest Nordic nation is seeing a new surge in Covid-19 infections.
According to Friday’s statement, companies that suffer a December loss of more than 30% will receive compensation up to 90% of the fixed cost. In addition, the government will expand tax deferral programs that are available to firms.
This support is needed as Covid-19 cases in Swedish hospitals are increasing. The omicron strain of Omicron adds to concerns over an increase in people falling ill. Sweden increased the requirements for vaccine certificates to cover all those arriving to the country this week. This includes people from neighbouring Nordic countries, who had previously been exempted.
Sweden’s finance minister Mikael Damberg mentioned restaurants and retail companies near the Norwegian border as companies that may be hit as the next wave of the pandemic is sweeping the Nordic region. Damberg spoke at a Stockholm news conference that support measures for December were initially intended to cost 500 million kronor (55 million dollars) per month.
“When people see that transmission increases, we see a change in behavior,” the minister said. “If this needs to be extended for more months we are ready to do that.”
The new measures have bi-partisan support, based on an agreement between Damberg’s Social Democrats and their traditional arch-rivals in the opposition Moderate Party.
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