Skip to main content
Home

Main navigation

  • Top stories
  • Health
  • Crime
  • Politics
  • Business
  • Tech
  • Culture
  • Sports
  • Weird
  • 1-1-2
Image
Closed due to Covid-19 sign
Closed due to Covid-19 sign - Credit: scaliger / DepositPhotos - License: DepositPhotos
Business
coronavirus support measures
Covid-19
Coronavirus
NOW regulation
TVL scheme
Friday, April 1, 2022 - 09:37
Share this:
  • facebook
  • twitter
  • linkedin
  • whatsapp
  • reddit

Covid business support dries up after 2 years, some €31 billion

After over two years and over 31 billion euros spent, the government's coronavirus support packages for companies end today. Businesses that lost turnover due to the pandemic can no longer count on subsidies to cover their wages or fixed costs. The packages were previously also discontinued but reinstated when new coronavirus restrictions were implemented, NOS reports. 

The government paid out massive amounts in Covid-19 support over the past two years. Companies received almost 22.5 billion euros in the NOW regulation to help companies pay their staff's wages. Over 475,000 companies made use of this scheme. And some 400,000 businesses received a total of 8.5 billion euros from the TVL regulation, meant to cover their fixed costs.

The amounts may increase a bit more because entrepreneurs have until April 13 to apply. The application covers the period up to April 1.

While the government support measures helped keep businesses afloat and unemployment low, criticism of the generic nature of the measures grew the longer the support lasted. In April last year, Pieter Hasekamp of the central planning office CPB warned that the support threatened to freeze parts of the economy. The longer the support lasted, the greater the disadvantages became, the CPB said in an evaluation.

Dutch central bank DNB also increasingly pointed out disadvantages to the support package. According to the regulator, it placed a heavy burden on public finances and would eventually disrupt healthy economic dynamics as it kept struggling businesses alive that would have died if there had been no pandemic and no support. 

Follow us:

Latest stories

  • Less than half of NL residents get enough exercise
  • Discrimination in healthcare making people sicker: report
  • Dutch municipality buys up land to help new homeowners afford a house
  • Six in custody for shooting at Zoetermeer playground; Victim, 17, in hospital
  • Spring drought similar to record year 1976
  • MH17 ruling in November at earliest

Top stories

  • Netherlands' lack of Covid strategy could result in more lockdowns: report
  • Intelligence services to start large-scale data mining despite negative referendum
  • Increasing demand from U.S. for abortion pills from Dutch organization
  • Tourist killed in Mallorca cliff dive was former Vitesse football player
  • Rotterdam commemorates bombing victims with laser display
  • Ukraine wins Eurovision final; Netherlands finishes in 11th place

© 2012-2022, NL Times, All rights reserved.

Footer menu

  • Privacy
  • Contact
  • Partner content