Type of Intervention: Regulation
Sectors Involved: Finance/Economy
Intervention Categories: Finance policy and financial aid; Stimulus packages and financial support
Level of Jurisdiction: National
Lead People/Agency: Ministry of Finance
Overview: Crisis package for businesses and jobs to mitigate the financial impact of the virus outbreak.
The Swedish Government expanded a programme that partially finances short term reductions in working hours of employees.
An employee and employer can agree to reduce the employee’s working hours by 20-80 percent while keeping the employee’s salary at 88-96 percent of their full-time salary.
Normally the difference in cost is shared equally between the employer and the government, but the new programme expands the support from the government to 75 percent of the cost.
Companies can also request deferred payment of Value Added Tax and certain employer costs.
Full details here: https://www.government.se/press-releases/2020/03/crisis-package-for-swedish-businesses-and-jobs/
Type of Justification: No justification given