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1. Key policy insights. Abstract. The Netherlands has weathered the economic shock from COVID-19 relatively well thanks to structural strengths and emergency policies put in place. Continued fiscal support is needed to support the recovery, but it should become more targeted to allow structural change.
The Netherlands: use the recovery from COVID-19 to address long-term challenges. 16/06/2021 - The COVID-19 pandemic has dealt a historic blow to the Netherlands’ economy, but a swift policy response, effective support to people and firms, and a workforce with comparatively strong digital skills have helped the country to weather the crisis ...
- Fixed Costs Grant Scheme
- Compensation For Retailers Holding Excess Stock
- Startups
- Temporary Emergency Scheme For Job Retention
- Events
- Tax Measures
- Other Measures
The government is expanding the Fixed Costs Grant Scheme (TVL), and more businesses will be eligible for support under the scheme. For the first two quarters of 2021, the TVL grant will be 85% of a proportion of fixed costs that is equal the percentage of turnover lost, provided the loss in turnover is at least 30%. The requirement that a business ...
The government is extending and raising the compensation for retailers that have been left with excess stock due to the extended lockdown. Many stores have been left with, for example, winter collections that will be hard to sell. In the first quarter of 2021, the grant will amount to 21% on top of the fixed-cost percentage that applies under the T...
The government is introducing a scheme for new businesses which were started between 1 January and 30 June 2020. The details have yet to be finalised. The scheme, which will be based as far as possible on the TVL, will apply to both the first and second quarters of 2021. The reference period for these businesses will be the third quarter of 2020. S...
NOW grants, which enable employers to continue paying their employees’ salaries, are being increased from 80% to 85% of the wage bill. The amount by which the wage bill can be reduced without affecting the grant amount – the wage bill exemption – will remain at 10%. NOW grants for January, February and March can be applied for from 15 February. Sel...
A guarantee fund will be created for events. This will enable event organisers to start planning and organising festivals, for example, once it is responsible to do so. The current thinking is that this could be from 1 July. The government is still working on the details of this plan, for which at least €300 million will be earmarked.
The government is extending the period in which business owners can apply to defer payment of taxation, or to extend a deferral, to 30 June 2021. Businesses that have not yet applied for deferral or extension can now do so. For businesses that had already been granted an extension earlier this year, the deferral will now run automatically to 30 Jun...
A credit facility will be introduced for business owners wishing to use the Court Approval of a Private Composition (Prevention of Insolvency) Act (WHOA) as part of the Time Out Arrangement (TOA)....The government is extending support measures for amateur sport, for which it is making €240 million available. This money will fund the Amateur Sport Organisation Grant Scheme, the Sports Facility...The temporary coronavirus-related scheme for students in secondary vocational education and higher education (MBO, HBO and WO) will be extended up to and including August of this year. Students who...Medium-sized agricultural and horticultural businesses are not eligible for the increased TVL grant due to EU rules. The government considers this to be an undesirable situation and is therefore wo...Our response to the coronavirus pandemic. Extraordinary times require extraordinary action. There are no limits to our commitment to the euro. We at the ECB have put in place a set of monetary policy and banking supervision measures to mitigate the impact of the coronavirus pandemic on the euro area economy and to support all European citizens.
Mar 19, 2020 · Due to the coronavirus outbreak, the Dutch government has decided to implement a series of unprecedented economic measures. The measures are designed not only to protect our health, but also to protect people's jobs and livelihoods and to minimise the impact on self-employed people, small and medium-sized enterprises and major companies.
Aug 10, 2020 · The European Commission: how we are helping EU citizens and businesses cope with COVID-19. The first steps. First, the European Central Bank launched the €750 billion Pandemic Emergency Purchase Programme, a monetary package to counter the risks to liquidity and the outlook for the euro area.
Mar 2, 2022 · Introduction “The coronavirus (COVID-19) has produced a highly unusual recession and is likely to give rise to a similarly unsteady recovery” (Lagarde 2020a).The monetary policy implemented by the European Central Bank (ECB) to offset this extraordinary shock has been effective in improving banks’ lending conditions for firms and households and has indirectly created fiscal capacity for ...
