On 13 March, Austria’s government announced €4 billion would be directed to support independent workers, maintain employment, and help businesses avoid insolvency in the face of the Covid-19 pandemic. Finance for partial unemployment measures will rise from €20 million to €400 million, along with less stringent rules applying for ‘Covid-19 partial unemployment’ which will be accessible as of 23 March. Planet Labor will keep you abreast of these rules and regulations as they come on-stream in the upcoming days.
On Friday 13 March, Austria’s Finance Minister Gernot Blümel stated that the health of the nation’s citizens and support for business were more important issues than fiscal equilibrium. The Minister announced a €4 billion support package for businesses, especially in the tourism industry that are facing cash flow problems and struggling to maintain employment. The package includes supports for company payments problems as well as urgent credit extension guarantees to facilitate bank lending to
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