Table 6. Financial support for affected sectors in different countries.
| Countries | Supporting program | Detailed description | |
|---|---|---|---|
| UK74 | Self-Employment Income Support Scheme | • For self-employed people whose businesses have been adversely affected by COVID-19 | |
| • The first round of grants, for which claims closed on July 13, 2020 | |||
| - Up to 80% of average monthly trading profits | |||
| - For a period of 3 months, capped at an overall maximum of £7,500 | |||
| • The second round of grants, for which claims opened on August 17, 2020 and closed on October 19 | |||
| - Up to 70% of average monthly trading profits | |||
| - For a period of three months, capped at an overall maximum of £6,570 | |||
| • The third round of grants, for which applications opened on November 30, 2020 and will close on January 29, 2021, covers the period from the start of November 2020 until January 29, 2021 | |||
| - Up to 80% of average monthly trading profits | |||
| - For a period of 3 mon, capped at an overall maximum of £7,500 | |||
| • The fourth grant covering February 2021 to April 2021 | |||
| US75 | Paycheck Protection program | • Provides funds to pay up to 8 weeks of payroll costs, including benefits | |
| • Eligible | |||
| - Self-employed, nonprofits, veterans' organizations, tribal concerns, individuals, sole proprietorships, independent contractors | |||
| France76 | Solidarity Fund (Fond de Solidarité) | • Benefit from a direct tax rebate | |
| - If facing payment difficulties related to the virus, spread or defer payment of tax debt | |||
| - In the most difficult situations, a remission of direct taxes | |||
| - Postponing the deadline for payment of cotisation paid by self-employed | |||
| • Solidarity fund of up to €1,500 per month | |||
| • Interest-free loans with a national guarantee up to 25% of the annual income reported as of the previous year | |||
| - Repaid after 1 yr | |||
| Japan | Employment support fund77 | • Based on the average wage and the payment rate of vacation pay | |
| - Limit is 15,000 yen per person (per day) | |||
| Rent support fund78 | • Support rent fees for difficulty continuing business due to COVID-19 | ||
| - Decreased by more than 50% compared to the same month of the previous year | |||
| - Decreased by more than 30% compared to then same period of last year for consecutive 3 mon | |||
| • Up to 6 months of then rental fee | |||
| • Maximum 5 million yen for corporations | |||
| - 2.5 million yen for individual businesses | |||
| Germany79 | Soforthilfe (emergency aid program) | • Emergency aid program worth 50 billion euros | |
| • The temporary support will reimburse: | |||
| - 80 per cent of fixed costs, where turnover has dropped by more than 70 per cent | |||
| - 50 per cent where turnover has dropped by between 50 and 70 per cent | |||
| - 40 per cent where turnover has dropped by at least 40 and less than 50 per cent | |||
| - The maximum support is 150,000 euros for three months. | |||
| - For companies with up to 5 employees, the maximum sum that can be reimbursed is 9,000 euros for 3 mon. | |||
| - For companies with up to 10 employees, the maximum sum that can be reimbursed is 15,000 euros for 3 mon. | |||
| - In exceptional and justified cases – small businesses with extremely high fixed costs – support may be granted more than these ceilings. | |||
| • No obligation to repay it in the future. | |||
| Australia | Coronavirus supplement80 | • Subsidy for equivalent to $550 per 2 wk ($275 per wk) | |
| - Self-employed persons whose business is closed because of a decrease in customers or whose income has decreased. | |||
| Increasing the instant asset write-off81 | • From March 12, 2020 until December 31, 2020, the instant asset is written off: | ||
| - Threshold is $150,000 (up from $30,000). | |||
| - Eligibility range covers businesses with an aggregated turnover of less than $500 million (up from $50 million). | |||
| JobMaker Hiring Credit80 | • The JobMaker Hiring Credit will be: | ||
| - $200 per wk for each eligible employee aged 16 to 29 | |||
| - $100 per wk for each eligible employee aged 30 to 35 | |||
| Boosting cash flow for employers80 | • Providing up to $100,000 to eligible small and medium sized businesses and not-for-profits | ||
| Taiwan82 | Subsidy program for the self-employed | • Receive NT$10,000 (EUR 330) for up to 3 mon | |
| - Taiwan citizenship | |||
| - Enrolled in the labor insurance scheme through a professional union on or before March 31, 2020 | |||
| - Salary in March 2020 was NT$24,000 (EUR 700) or less | |||
| - Taxable income in 2018 was NT$408,000 (EUR 12,200) or less | |||
COVID-19 = coronavirus disease 2019, NT = New Taiwan dollar.