Financial assistance in November: Söder pushes for initial deposits of up to 100,000 euros
The federal government is planning to distribute advance payments this November to companies affected by the lockdown, with a current maximum of 10,000 euros set aside. However, this amount is deemed insufficient by some, particularly larger companies and regional leaders.
Markus Söder, head of Bavaria's government, has suggested a significant increase in the advance payments, proposing a starting point of up to 100,000 euros for larger companies. Other state premiers have gone even further, demanding an increase up to 500,000 euros.
The planned aid payments for November amount to around 15 billion euros, but the slow flow of funds has been a cause for concern. Economic associations have criticised the situation, emphasising the urgent need for support for many companies.
Federal Economics Minister Peter Altmaier and Federal Finance Minister Olaf Scholz are reportedly considering a potential advance payment of around 50,000 euros, although Scholz has yet to express whether and to what extent he will increase the advance payments. Finance and economics ministers are currently in discussions about this matter.
There is a concern about potential abuses, as there were with the quick aid in the spring. The federal government has received approximately 120,000 applications for November aid, but the November aid for companies affected by the lockdown is expected to be paid out no earlier than January.
Further extension of aid payments is planned for December by the federal government. However, the specific amounts the Federal Ministry for Economic Affairs or the Federal Ministry of Finance have set aside for the November aid payments to affected companies, nor about whether these amounts will be renewed according to the wishes of the state governments, remain unclear.
The advance payments for November aid continue to be a topic of debate among political leaders and economic associations, with the aim of providing timely and effective support to the businesses most in need.
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