Intervention Categories: Legal and policy; Regulatory change; Finance policy and financial aid; Stimulus packages and financial support
Level of Jurisdiction: National
Overview: The Dutch Government has eased the criteria for businesses applying for its ‘Temporary Emergency Bridging Measure for Sustained Employment’ or NOW (Noodfonds Overbrugging Werkgelegenheid) scheme. Previously, only businesses who expected to lose at least 20 percent or more in turnover from 1 March 2020, could apply for compensation under the scheme to help pay their employees” wages for up to 6 months.
The Government is now allowing businesses who don’t meet this criteria to also apply. This takes into account that some businesses have operating branches that have come to a complete or partial standstill due to the Corona crisis, but may not meet the 20 percent loss in turnover required to be eligible for the scheme.
Under the scheme, businesses can claim up to 90 percent of wages, depending on how much turnover they lose. However there are certain conditions that businesses must met, including additional audits, agreements with unions about job preservation, and refraining from paying dividends or bonuses, or repurchasing own shares for 2020.
Full details here: https://www.rijksoverheid.nl/onderwerpen/coronavirus-covid-19/nieuws/2020/04/22/verruiming-concernbepaling-now-onder-voorwaarden