Dutch gov't extends Covid support for businesses

The government pushed another over 700 million euros into extending its coronavirus support measures for businesses, Minister Bas van 't Wout of Economic Affairs announced on Friday.

The cabinet decided to increase the maximum fixed costs compensation for entrepreneurs from 85 percent to 100 percent. Like most measures in the government's coronavirus support package, this TVL scheme is based on the percentage of lost turnover. If an entrepreneur lost 100 percent of its turnover due to the pandemic, the government will cover 100 percent of their fixed costs.

The government is also increasing the budget to support people struggling to pay their bills due to the pandemic. The Tweede Kamer, the lower house of Dutch parliament, asked for this increase during a debate on Wednesday.

Van 't Wout said that the cabinet listened carefully to signals from municipalities, entrepreneurs, and parliament in its decision to extend these measures.