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Germany to compensate firms hit by new lockdown measures - sources


German Finance Minister Olaf Scholz plans a coronavirus aid package worth up to 10 billion euros ($11.82 billion) to compensate firms hit by a new round of lockdown measures, three people familiar with the matter told Reuters on Wednesday. “The situation is very, very serious. We need far-reaching measures now and we have to cushion their impact financially,” Scholz said during a virtual meeting with Chancellor Angela Merkel and the 16 state premiers according to participants, according to one of the people. Scholz wants to pay small and medium-sized firms that will be forced to close 75% of their lost sales in November, the three people said. Large companies should get 70% of lost revenues for next month.

Reuters - October 28, 2020

View the full story here: https://www.reuters.com/article/health-coronavirus-germany-compensation/germany-to-compensate-firms-hit-by-new-lockdown-measures-sources-idUSL8N2HJ5RZ