The plan, endowed with 200,000 million euros, includes a moratorium on some mortgages and aid for the most vulnerable families, companies and the self-employed
The President of the Spanish Government, Pedro Sánchez has presented a series of temporary measures to fight the economic crisis triggered by the Covid19.
“We will be injecting up to 200.000 million euros, 20% of Spain’s annual GDP”, the Prime minister stressed. Up to 117.000 million Euros will come directly from the public sector and the rest from the private industry.
The President insisted repeatedly that he will do anything that is in his hands to not let anyone behind during this crisis. “We shall make every effort needed. We must protect our families, companies and self-employed”.
Apart from the measures of support to the most vulnerable families, employees, companies and self-employed, the Council also approved funding for scientific research.
1 – Aids to Companies, workers and self-employed
- Facilitating the ERTE (Temporary Employment Regulation) All people affected by an ERTE will receive unemployment benefits, including those who have not made sufficient Social Security contributions.
- The Unemployment benefits received during the State of Alarm shall not be taken into account for the calculation of unemployment benefits after this crisis.
- All workers will have the right to reorganise or reduce their working day, even up to a 100% , to take care of relatives, old people or children, while schools are closed.
- All companies must encourage working from home when possible.
- Extraordinary benefit for Self-employed individuals who have had to close their business: The access to economic benefits due to the Cessation of activity of Self-employed workers is eased. It affects professionals who have had a 75% fall in income compared to the previous semester. This aid is compatible with the waiver of social security quotas.
- Companies who implement ERTE (Temporary Employment Regulation) shall not pay Social Security fees.
- A Public guarantee line is established to provide liquidity to Companies up to 100.000 million euros.
- A line endowed with 2.000 million euros for export firms is established.
- A support programme for digitisation of PYMES and support programmes and plans for research to encourage working from home is adopted.
2 – Aid to the most vulnerable families, caused by the corona virus: 600 million euros for social security with special attention on elderly people and dependent persons.
- Guarantee of basic life necessities (electricity, water and gas). Also telecom services are guaranteed.
- A moratorium is established on the payment of mortgages of their first homes to people who have reduced their income or are unemployed due to the Covid19.
3 – Support for the development of finding a vaccine
- Measures to support the scientific research in finding a vaccine