Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Australia 05B 05B - Income support AUD 138,061,800,000 85,846,827,181 Department of Treasury. https://treasury.gov.au/sites/default/files/2020-05/Overview-Economic_Response_to_the_Coronavirus_3.pdf (accessed 3 June 2020); Department of Treasury. https://treasury.gov.au/media-release/jobkeeper-update (accessed on 3 June 2020); Department of Education, Skills, and Employment (DESE). https://ministers.dese.gov.au/morrison/early-childhood-education-and-care-relief-package (accessed 3 June 2020); DESE. https://ministers.dese.gov.au/tehan/response-child-care-review (accessed 3 June 2020); Department of Treasury. https://treasury.gov.au/sites/default/files/2020-06/Fact_sheet_HomeBuilder.pdf (accessed 5 June 2020); DESE. https://ministers.dese.gov.au/tehan/return-child-care-subsidy (accessed 10 June 2020).

Three economic stimulus packages, i.e. (i) Support for individuals and households including (a) income support for individuals (AUD14,133 million), (b) payment to support households (AUD8,830 million), (c) temporary early release of superannuation (AUD1,150 million), (d) No amount/estimate, temporarily reduce superannuation minimum drawdown rates, (e) lower the social security deeming rates (AUD876 million); (ii) Support for business including (a) JobKeeper payment (AUD70,000 million), (b) boosting cash flow for employers (AUD31,900 million), (c) No amount/estimate, temporary relief for financially distressed businesses, (d) increasing the instant asset write-off (AUD700 million), (e) backing business investment (AUD3,200 million), (f) supporting apprentices and trainees (AUD1,265 million), (g) support for Coronavirus affected regions and communities (AUD1,000 million), (h) support for Australian airlines and airports (AUD715 million); (iii) April 2, The Commonwealth government has committed to provide free childcare to around one million families and announced targeted support to the education system. The sector is expected to receive AUD1.6 billion over the coming three months from taxpayer subsidies. On May 20, the Ministry of Education announced an additional AUD12.8 million in funding, i.e. (a) AUD12 million provided for child care services that have more than 30% of full-time equivalent staff ineligible for JobKeeper Payments, and (b) AUD800,000 to increase the level of funding for in-home care providers; (iv) June 4, The government announced a HomeBuilder program offering AUD25,000 grants to new home builders and renovators from June 4 to December 31, 2020. HomeBuilder will be implemented via a National Partnership Agreement, signed by the Commonwealth and State and Territory governments and is expected to cost AUD680 million [update]; (v) June 8, The government announced that it will resume the Child Care Subsidy (CCS) to support families to access affordable child care starting July 13 and will pay approximately AUD2 billion this quarter to eligible families [update].

Austria 05B 05B - Income support EUR 39,290,000,000 43,462,389,380 BMF. https://www.bmf.gv.at/presse/pressemeldungen/2020/Mai/kulturpaket.html (accessed 29 May 2020), https://www.bmf.gv.at/presse/pressemeldungen/2020/Mai/haertefallfonds.html (accessed 28 May 2020), https://www.bmf.gv.at/presse/pressemeldungen/2020/Mai/gemeindepaket.html (accessed 26 May 2020), https://www.bmf.gv.at/presse/pressemeldungen/2020/Mai/fixkostenzuschuss.html, https://www.bmf.gv.at/presse/pressemeldungen/2020/Mai/kurzarbeit-mittel-erhoeht.html (both accessed 21 May 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#A (accessed 20 May 2020); OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 10 June 2020); Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 21 May 2020).

(i) EUR15 billion emergency funds for hard-hit industries to provide direct liquidity provisions and subsidies for running costs. On April 27, expanded Phase 2 of the hardship fund, through which SMEs may request up to 6000 Euros from the government; (ii) EUR10 billion for payment deferrals of personal income and corporate income taxes; (iii) No amount/estimate: rent payment deferrals; (iv) No amount/estimate: May 13, proposed a more simple calculation method to determine monetary subsidies by companies to their employees from their own accounts and from the government's funding. Under the new system, no employee should have any losses; (v) May 20, Increased to EUR12 billion (from EUR10 billion on April 13 and EUR5 billion originally) funds for short-time working, self-employed and funds to finance increased costs of caretaking, etc.; (vi) May 21, EUR1.2 billion is being rolled out by authorities as new fiscal measures including tax relief measures for the hospitality sector of EUR500 million and support to non-profit organizations of EUR700 million; (vii) No amount/estimate: May 21, Applications for the fixed subsidy have already started, with the first payments being disbursed by end of May. The Ministry of Finance will reimburse up to 75% of a company's fixed costs for up to 3 months; (vii) May 25, EUR1 billion in grants from the federal government to municipalities, geared towards support for infrastructure investment (e.g. schools, public transportation, energy production); (viii) May 27, increase in the minimum payment amount of the hardship fund to EUR500, and added another EUR500 comeback bonus, dedicated to entrepreneurs having hardships during the pandemic; (ix) May 28, Allocated EUR90 million to support freelance artists up to EUR1000 a month; (x) To jump-start the economy, a new tax incentive was introduced for companies that recruit apprentices, with EUR2,000 per position created between March 16 and October 31 of this year. [update]

Belgium 05B 05B - Income support EUR 9,000,000,000 9,955,752,212 SPF Finances. https://finances.belgium.be/fr/Actualites/diminution-temporaire-taux-tva-secteur-horeca (accessed 14 June 2020). European Commission. https://ec.europa.eu/info/sites/info/files/2020-european-semester-stability-programme-belgium_fr.pdf (accessed 24 May 2020).

(i) On the other hand, non-health initiatives total EUR9 billion, with EUR5.3 billion for federal and EUR3.7 for regional; (ii) In addition, reduced the VAT rate applicable to some restaurant and catering services to 6% until the end of 2020. [update]

Canada 05B 05B - Income support CAD 47,741,600,000 34,217,237,054 Department of Finance Canada.. https://www.canada.ca/en/department-finance/economic-response-plan.html?topic=ex-col-faq (accessed 10 June 2020).

(i) Emergency care benefit- CAD10 billion; (ii) Emergency Support Benefit- CAD5 billion; (iii) GST Credit- CAD5.5 billion; (iv) Enhanced Canada Child Benefit- CAD1.9 billion; (v) Temporary Business Wage Subsidy- CAD3.8 billion. (vi)Canada Student Loan Payments- CAD190 million; (vii) Support for Indigenous Communities- CAD305 million; (viii) Support for people experiencing homelessness (through Reaching Home)- CAD157.5 million; (ix) Support for women’s shelters and sexual assault centres including on reserve- CAD50 million; (x) Lower Registered Retirement Income Fund Minimum Withdrawal Amounts-CAD495 million; (xi) CAD 10.5 billion as o f June 8; Canda Emergency Wage subsidy (CEWS) calculator,the CEWS applies at a rate of 75% of the first CAD58,700 normally earned by employees—representing a benefit of up to CAD847 per week, per employee. The program is in place for a 12-week period, from March 15 to June 6, 2020; (xii) CAD20.1 million in support for Futurpreneur Canada to continue supporting young entrepreneurs across Canada who are facing challenges due to COVID-19; (xiii) CAD15 million in non-repayable support for businesses in the territories to help address the impacts of COVID-19; (xiv) CAD675 million to give financing support to small and medium-sized businesses that are unable to access other COVID-19 business supports, through Canada's Regional Development Agencies; (xv)CAD274 million Creating new jobs and opportunities for youth; (xvi) No amount/estimate; Canada Emergency Response Benefit (CERB) provides a taxable benefit of CAD2,000 every 4 weeks for up to 16 weeks to eligible workers who have lost their income due to COVID-19; (xvii) CAD2.47 billion- clean energy; (xviii) CAD350 million-to support vulnerable Canadians through charities and non-profit organizations; (xviii) No amount/estimate- Waiving ground lease rents through December 2020 for airport authorities that pay rent to the federal government; (xix) CAD500 million-COVID-19 Emergency Support Fund for cultural, heritage, and sport organization to address financial needs of affected organizations so they can continue to support artists and athletes; (xx) CAD5.365 billion for agriculture and fisheries; (xxi) No amount/estimate- Increased payments of 50% to 75% to AgriStability to support farmers that face significant revenue declines; (xxiii) No amount/estimate Flexibility for individual and corporate taxpayers (tax payment deferral until September); (xxiv) AgriRecovery initiative of up to CAD 125 million to help producers faced with additional costs incurred such as set-asides for cattle and hog management programs to manage livestock backed-up on famrs, due to temporary closure of food processing plants; (xxv) Surplus Food Purchase Program of CAD 50 million to help redistribute existing and unsold food inventories.

Denmark 05B 05B - Income support DKK 264,957,000,000 39,226,579,361 OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 30 April 2020). Denmark Government. https://bm.dk/nyheder-presse/pressemeddelelser/2020/05/regeringen-freder-elever-laerlinge-og-praktikanters-ferie-og-fridage-under-loenkompensation/ (accessed 14 May 2020). Ministry of Culture. https://kum.dk/nyheder-og-presse/pressemeddelelser/nyheder/kulturpulje-til-udsatte-saarbare-og-aeldre-er-aaben/1/1/ (accessed 24 May 2020). Denmark government. https://em.dk/nyhedsarkiv/2020/juni/regeringen-og-arbejdsmarkedets-parter-udfaser-gradvist-loenkompensationsordningen/ (accessed 10 June 2020)

(i) March 10, DK35 billion liquidity effect of deferral of monthly VAT payments for large firms; (ii) March 12, No amount/estimate: Short-time Work Scheme made more flexible; (iii) DKK10 million for upskilling of dismissed employees; (iv) DKK1.7 billion sickness benefit reimbursement available from 27 February to 1 January 2021; (v) March 26, DKK1.1 billion liquidity effect of deferral of property taxes; (vi) DKK2.5 billion frontloading of investments in e.g. energy renovation and similar initiatives in municipalities; (vii) March 26, DKK6.5 billion frontloading of payment by local governments to firms; (viii) March, DKK90 billion liquidity effect of deferral of income tax payment and labor market contributions; (ix) April 1, DKK300 million compensation scheme to event organizer companies extended; (x) April 7, DKK1.2 billion for a range of minor support schemes established to support agents and businesses with cultural activities, sports and private education; (xi) April 18, DKK6 billion for the Job Retention Scheme available from 9 March to 8 July 2020. Take-up rate around 5% of the labour force (150,000 employees) on 19 April; (xii) April 18, DKK277 million for increased access to unemployment and sickness benefits. As of June 5, the wage compensation has been extended to August 29 [update]; (xiii) April 18, DKK65.3 billion compensation scheme for companies’ fixed costs available for the period 9 March to 8 July; (xiv) April 18, DKK14.3 billion compensation scheme for self-employed; (xv) April 18, DKK350 million for Innovation Subsidy Scheme to support new projects; (xvi) April, DKK35.4 billion VAT payments already made for second half and last quarter of 2019 are made available as interest free loans; (xvii) April, DKK5 billion liquidity impact of deferral of provisional taxes for self-employed; (xviii) May 14, No amount/estimate: Increased holiday and time-off benefits for students, apprentices, and trainees; (xix) May 20, Established a pool of DKK20 million to sponsor collegiate, cultural, and sporting activities for vulnerable and elderly citizens during the coronavirus crisis. The pool is managed by the Ministry of Culture's Palace and Culture Board; (xx) May 26, No amount/estimate: Relaxed requirements to receive pension and unemployment benefits; (xxi) May 26, No amount/estimate: Frozen holiday funds must be paid out by employers by September 1, 2020.

European Central Bank 05B 05B - Income support EUR
European Union 05B 05B - Income support EUR 212,319,000,000 234,866,150,442 OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 15 April 2020); EC. https://ec.europa.eu/regional_policy/en/newsroom/news/2020/01/14-01-2020-financing-the-green-transition-the-european-green-deal-investment-plan-and-just-transition-mechanism (accessed 19 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 21 May 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1007 (accessed 12 June 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_997 (accessed 12 June 2020).

(i) Mobilised European Globalisation Adjustment Fund to support dismissed workers and those self-employed (up to EUR179 million available in 2020); (ii) EUR100 billion to finance the short-term unemployment mechanisms through the loans provided by the EU Commision to EU member states (SURE mechanism) backed by EUR 25 billion of guarantees voluntarily committed by Member States to the EU budget. On May 20, a Regulation establishing SURE entered into force. Countries will be able to use loans also in support of some health-related measures, esp. in the workplace. SURE will become available once all Member States have provided the required guarantees proportionally to gross national income, and will remain available until end-2022 (with the possibility to adjust this deadline) ; (iii) no amount/estimate: March 19, EU Comission intends to allow State aid for struggling businesses and enable Member States to use the full flexibility foreseen under State aid rules. On May 8, the European Commission adopted a second amendment to extend the scope of the State aid Temporary Framework to recapitalization and subordinated debt measures to further support the economy in the context of the coronavirus outbreak. The amended Temporary Framework will be in place until the end of December 2020, except for recapitalization measures which has an extended period by the end of June 2021. The Commission will assess before these dates if they need to be extended; (iv) March, EUR37 billion unallocated funds of cohesion policy funding 2014-2020 will be eligible for Coronavirus crisis related expenditure within the Corona Response Investment Initiative. Member States can use them to support public investment for hospitals, SMEs, labor markets, and stressed regions. The Coronavirus Response Investment Initiative Plus (CRII+), proposed on 2 April, complements the CRII by further enhancing flexibility in the use of cohesion funds. This enhanced flexibility is inter alia provided through transfer possibilities across the three cohesion policy funds (the European Regional Development Fund, European Social Fund and Cohesion Fund), transfers between the different categories of regions (e.g. less vs more developed), flexibility regarding thematic concentration, the possibility for a 100% EU co-financing rate for the accounting year 2020-2021, and simplified procedural steps; (v) European Green Deal investments will remain a priority as part of the EU's efforts to kickstart its economy post-crisis. One of its three sources of funding is a grant, the A Just Transition Fund, which will receive EUR7.5 billion of fresh EU funds. In order to tap into their share of the Fund, Member States will, in dialogue with the Commission, have to identify the eligible territories through dedicated territorial just transition plans. They will also have to commit to match each euro from the Just Transition Fund with money from the European Regional Development Fund and the European Social Fund Plus and provide additional national resources. Taken together, this will provide between EUR30 and EUR50 billion of funding. It will, for example, support workers to develop skills and competences for the job market of the future and help SMEs, start-ups and incubators to create new economic opportunities in these regions. It will also support investments in the clean energy transition, for example in energy efficiency. Another source of funds for this initiative is a public sector loan facility with the European Investment Bank backed by the EU budget to mobilise between EUR25 and EUR30 billion of investments. It will be used for loans to the public sector, for instance for investments in district heating networks and renovation of buildings; (vi) June 8, European Innovation Council (EIC) Accelerator Pilot fund issued grants of EUR140 million to innovative companies [update]; (vii) Proposed modifications to its 2020 budget to make EUR 11.5 billion available for the hardest hit regions, and to support businesses, including those outside of EU borders. These modifications are stopgap measures to provide support while waiting for the European Commission to ratify a budget containing the "Next Generation EU" recovery instrument [update].

Finland 05B 05B - Income support EUR 26,673,000,000 29,505,530,973 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#F (accessed 9 May 2020); MEE. https://tem.fi/artikkeli/-/asset_publisher/ensimmaiset-valtionavustukset-kunnille-yksinyrittajien-tukemiseksi (accessed 3 May 2020); https://vm.fi/en/article/-/asset_publisher/10616/hallitus-paatti-vuoden-2020-neljannesta-lisatalousarvioesityksesta (accessed 9 June 2020).

March 20, (i) EUR1.05 billion (increased from EUR900 million) in lower pension contributions through the remainder of 2020; (ii) EUR650 million for grants to SMEs and self-employed; and (iii) EUR3 billion for expanded parental allowance, social assistance and unemployment insurance; (iv) EUR4.5 billion i.7n tax and pension payment deferrals; (v) EU12 billion in increase in fiscal deficit from automatic stabilizers (4-5.0) percentage points of GDP; (vi) April 20, EUR250 million grants for sole proprietors for the cost of running business; (vii) EUR40 million to support restaurants in employing workers and EUR83 million compensation for the imposed restrictions on activities; (viii) EUR5.1 billion (which is part of the fourth supplementary budget of 6 June amounting to EUR 5.5 billion) focusing on aid to municipalities and measures supporting quick economic recovery. This stimulus package is aimed at boosting demand, improving Finland’s long-term growth prospects, combating climate change, promoting biodiversity, and reinforcing the entire country’s capabilities, resilience, self-sufficiency, and skills and competences. The package also includes measures supporting local government that are intended to secure basic services and alleviate the challenges for local government finances resulting from the virus crisis. The supplementary budget proposal also includes a set of measures to support the wellbeing of children and young people. [update].

France 05B 05B - Income support EUR 66,640,000,000 73,716,814,159 OECD. http://www.oecd.org/coronavirus/en/ (accessed 14 May 2020); Economie. https://www.economie.gouv.fr/coronavirus-startup-mesures-de-soutien-economique (accessed 15 April 2020); Figaro. https://www.lefigaro.fr/flash-eco/le-gouvernement-annonce-390-millions-d-euros-pour-le-transport-routier-20200417 (accessed 2 May 2020); BBC News. https://www.bbc.com/news/business-52814074 (accessed 28 May 2020); MINEFI. https://minefi.hosting.augure.com/Augure_Minefi/r/ContenuEnLigne/Download?id=7527227F-7F00-40D8-BBBD-C73ACCFE38E3&filename=1040%20-%20G%C3%A9rald%20DARMANIN%20annonce%20que%20les%20possibilit%C3%A9s%20de%20report%20des%20cotisations%20sociales%20sont%20prolong%C3%A9es%20pour%20le%20mois%20de%20juin%2C%20sur%20demande..pdf (accessed 12 June 2020).

(i) EUR8.5 billion for short-time work scheme; (ii) April 27, EUR7 billion (increased from EUR1.5 billion) for the solidarity fund to support income for the self-employed and smallest firms; (iii) EUR48.5 billion in postponement of social and fiscal deadlines and the early reimbursements of tax credits (2.0% of 2019 GDP); (iv) No amount/estimate: tax exemptions for bonuses in "essential" sectors; (v) March 25, EUR1.75 billion in tax breaks and grants to startups; (vi) April 20, EUR390 million road transport fund (liquidity for road transport sector); (vii) EUR0.5 billion for postponement of part of the unemployment insurance reform; (viii) May 25, EUR8 billion proposed rescue plan for country's car industry which has been severely impacted by the COVID-19 pandemic (proposal stage); (ix) EUR18 billion Tourism rescue plan and EUR10 billion Aeronautic sector rescue plan (still in the proposal stage) [update]; (x) No amount/estimate: June 2, Extended the postponement of social security payments through the month of June 2020 [update].

Germany 05B 05B - Income support EUR 709,630,000,000 784,988,938,053 Federal Ministry of Finance. https://www.bundesfinanzministerium.de/Content/EN/Pressemitteilungen/2020/2020-03-23-supplementary-budget.html (accessed 17 April 2020); Bruegel. https://www.bruegel.org/publications/datasets/covid-national-dataset/#germany (accessed 17 April 2020); Federal Ministry of Finance and Federal Ministry for Economic Affairs and Energy. https://www.bmwi.de/Redaktion/EN/Downloads/a/a-protective-shield-for-employees-and-companies.pdf?__blob=publicationFile&v=3 (accessed 17 April 2020); Tax Foundation. https://taxfoundation.org/kurzarbeit-germany-short-work-subsidy-scheme/ (accessed 17 April 2020); OECD. https://www.oecd.org/coronavirus/en/ (accessed 30 April 2020; 8 May 2020); Bundesministerium der Finanzen. https://www.bundesfinanzministerium.de/Content/DE/Pressemitteilungen/Finanzpolitik/2020/05/2020-05-06-Hilfen-Gastronomie.html (accessed 9 May 2020); Federal Ministry of Labor and Social Affairs. https://www.bmas.de/DE/Presse/Pressemitteilungen/2020/sozialschutzpaket-ii-weitere-hilfen-fuer-arbeitnehmer.html (accessed 21 May 2020); Politico. https://www.politico.eu/article/german-coalition-agrees-e130b-economic-rescue-package/ (accessed 4 June 2020).

(i) March 23, EUR50 billion in direct grants to distressed one-person businesses and micro-enterprises; (ii) EUR7.7 billion to expand access to welfare payments such as child allowance and income support, removing means-testing rules, and including self-employed workers; (iii) EUR500 billion (Bruegel estimate) tax deferrals for businesses, that is, EUR70 billion for direct corporate income tax plus EUR430 billion if we include indirect taxes and social contributions (assuming 75% tax deferral and 5% of gross domestic product [GDP] loss in 2020); (iv) EUR10 billion for keeping people employed, by expanding the reduced hours compensation benefit scheme (‘Kurzarbeitergeld’); (v) Subsidies to loans (included in the EUR357 billion mentioned in Measure 1) made available through KfW; (vi) No amount/estimate: April 22, The government decided to increase the replacement rate of lost net earnings to 70% for childless workers and to 77% for workers with children from the fourth month of short-time work onwards if they have reduced their working time by at least 50%. In the seventh month, payments are increased further to 80% and 87% respectively; (vii) April, The labour agency will cover 100% of social-security contributions for lost hours of short-time workers; (viii) No amount/estimate: Starting on July 1, the reduced VAT rate of 7% will be applicable to restaurants for 12 months; (ix) No amount/estimate: May 6, (a) Sales tax rate for restaurant and catering services rendered between 30 June 2020 and 1 July 2021 will be reduced from 19% to 7%, except for beverage sales; (b) Employer grants for short-time work benefits and seasonal short-time work benefits for wage payment between 29 February 2020 and 1 January 2021 will be up to 80% of the difference between the target salary and the actual salary; (x) May 14, Under the Social Protection Package, The increase in short-time work benefits leads to additional expenditure in the budget of the Federal Employment Agency of an estimated EUR680 million. The extension of the eligibility period for unemployment benefit leads to additional expenditure in the budget of the Federal Labor Agency estimated around EUR1.95 billion; (xi) June 3, A new stimulus package which includes: (a) Economic and crisis management package, mainly tax cuts and investments (EUR59.7 billion), (b) Strengthen Länder and municipalities (EUR15.6 billion), (c) Social expenditure (EUR9 billion), (d) Future programme (green and technological) (EUR47 billion), (e) Humanitarian aid (EUR3 billion), and (f) Equity for public railways (EUR5 billion) [update].

Ireland 05B 05B - Income support EUR 8,586,000,000 9,497,787,611 OECD. http://www.oecd.org/coronavirus/en/ (accessed 15 April 2020); DBEI. https://dbei.gov.ie/en/News-And-Events/Department-News/2020/May/02052020.html (accessed 9 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 9 May 2020); DBEI. https://dbei.gov.ie/en/News-And-Events/Department-News/2020/May/15052020b.html (accessed 1 June 2020). IE. https://www.gov.ie/en/publication/f7f70-30m-funding-under-the-rural-development-investment-programme/ (accessed 12 June 2020); DBEI. https://dbei.gov.ie/en/News-And-Events/Department-News/2020/June/04062020.html (accessed 12 June 2020).

March 9, The government has so far announced a stimulus package of EUR6.3 billion (3.2% of GDP) in response to the COVID-19 pandemic. It includes EUR2.4 billion for illness benefit payments announced on 9 March, as well as a further EUR3.7 billion announced on 24 March to cover the cost of a new Wage Subsidy Scheme. The government has also announced direct financial support for businesses. No amount/estimate: (i) Local Enterprise Offices in every county will be providing vouchers from EUR2,500 up to EUR10,000; (ii) a Finance in Focus grant of EUR7,200 will be available to Enterprise Ireland and Údarás na Gaeltachta clients; (iii) the government agreed with local authorities that they should defer business rates payments due from the most immediately affected businesses until the end of May; (iv) variety of taxation measures to alleviate short-term difficulties. For example, interest on late payments and all debt enforcement activity have been suspended and current tax clearance status will remain in place for all businesses; (v) Moratoriums on evictions and rent increases for duration of Covid emergency. The Commission for Regulation of Utilities has issued a moratorium on disconnections of domestic customers for non-payment to the gas and electricity suppliers; (vi) May 2, EUR250 million "Restart Grant" for micro and small businesses based on a rates/waiver rebate from 2019. 15 May, Approved details of the "Restart Grant" for small businesses (for costs associated with reopening and reemploying workers) . Grants will be available to businesses with turnover of less than EUR 5 million and employing 50 people or less, with at least 25% reduction in turnover by June 30, 2020. The grants will be equivalent to the rates bill of the business in 2019, with a minimum payment of EUR 2,000 and maximum of EUR 10,000. Applications open on Friday, May 22, 2020 ; (vii) EUR2 billion (estimate) for a three month commercial rates waiver for impacted businesses and the ‘warehousing’ of tax liabilities for a period of twelve months after recommencement of trading during which time there will be no debt enforcement action taken by Revenue and no interest charge accruing in respect of the warehoused debt; (viii) June 9, EUR30 million for the Rural Development Investment Programme under Project Ireland 2040 to support the social and economic recovery of rural communities over the coming months [update]; (ix) EUR6 million Enterprise Ireland funding for access to cutting edge R&D equipment in Technology Gateways and Centres to increase R&D collaboration and competitiveness for companies [update].

Italy 05B 05B - Income support EUR 75,365,000,000 83,368,362,832 OECD. http://www.oecd.org/coronavirus/en/ (accessed 15 May 2020); MIPAAF. https://www.politicheagricole.it/flex/cm/pages/ServeBLOB.php/L/IT/IDPagina/15431 (accessed 18 May 2020); Milano Today. https://www.milanotoday.it/attualita/coronavirus/decreto-rilancio.html#13 (18 May 2020) IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#F (accessed 21 May 2020); Bloomberg. https://www.bloomberg.com/news/articles/2020-05-13/italy-government-signs-off-on-55-billion-euro-stimulus-package (accessed 24 May 2020); Ministry of Infrastructure and Transport, Italy. Ministry of Labor and Social Policies. http://www.mit.gov.it/comunicazione/news/coronavirus/coronavirus-da-de-micheli-60-milioni-per-sostegno-locazione (accessed 25 May 2020); https://www.lavoro.gov.it/notizie/pagine/bonus-covid-per-iscritti-alle-casse-professionali-firmato-decreto-interministeriale.aspx/ (accessed 16 June 2020).

For individuals: (i) EUR5.0 billion to strengthen the wage supplementation scheme for furloughed employees; (ii) EUR400 million for one-year suspension in the repayment of real estate mortgages by workers having lost their job; (iii)EUR2.3 billion for one-off EUR 600 payment to the self-employed &seasonal workers; (iv) No amount/estimate: Allowance of EUR500 per month for up to 3 months for self-employed workers in the municipalities most affected; (v) EUR1.3 billion to strengthen childcare support; (iv) EUR30 million for EUR1000 childcare payment to employees in the healthcare and law enforcement sectors; (v) EUR0 5 million to raise by 12 days the paid leave for disabled workers and workers caring for a disabled relative; (vi); EUR130 million to extend sick leave to cover days spent in quarantine; (vii) EUR900 million for a EUR 100 one-off bonus to workers who continued to work at their workplace. For companies: (i) EUR540 million for 60% tax credit on commercial rents; (ii) EUR50 million for incentives to firms to sanitise workplaces; (iii) EUR600 million for suspension of collection of tax collection files; (iv) No amount/estimate: Suspension for 2 months of tax and social security payments in the municipalities most affected; (v) EUR10 billion for suspension of all the tax and social security payments coming due in March; (vi) No amount/estimate: suspension of 2 months (until end of April) in the payment of the electricity, gas, water and waste bills in the most affected municipalities; (vii) No amount/estimate: Non-application of withholding tax for professionals without employees, with revenues below EUR400,000 until 31 May 2020; (viii) No amount/estimate: Incentive to sell impaired loans (NPLs) by converting deferred tax assets (DTA) into tax credits for financial and industrial companies; (ix) EUR1.7 billion to provide fee-free guarantee for SMEs loans; (x) EUR500 million Emergency Fund to protect supply chains in crisis”, to cover damage by the agricultural, fishing and aquaculture sector, and “and the slowdown in exports” (especially for livestock). It is a partial compensation of stocks (costs of storage and seasoning of these products); (xi) May 7, New Covid-19 emergency fund of EUR 100 million to agriculture sector (interest subsidy and direct aid) ; (xiii) May 13, the government announced a further €55 billion rescue package of measures. Measures include further income support for furloughed workers, freelancers and unemployment benefits (EUR26.5 billion), funds for the healthcare system (EUR3.25 billion), measures to support businesses, including grants for SMEs and tax deferrals (EUR16 billion), EUR1.2 billion for the food and agriculture sector, and EUR1.4 billion for schools, including hiring university researchers and teachers ; (xiv) May 6, EUR60 million to the National Fund for support to access in housing rental; (xv) 8 June, Decree that allows for the automatic disbursement of an April payment worth EUR600 to Italian free-lancers who benefitted from an analogous bonus for the month of March. The payment is a form of unemployment compensation related to COVID-19 (a so-called "Covid bonus") [update].

Japan 05B 05B - Income support JPY
Luxembourg 05B 05B - Income support EUR 8,863,000,000 9,804,203,540 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 19 April 2020; 9 May 2020). EU https://ec.europa.eu/info/sites/info/files/2020-european-semester-stability-programme-luxembourg_fr_0.pdf (accessed 14 May 2020). Luxembourg government. https://gouvernement.lu/fr/actualites/toutes_actualites/communiques/2020/05-mai/20-neistart-relance.html (accessed 4 June 2020)

March 25: (i) EUR1.45 billion fiscal package adopted by the Parliament, including: (a) EUR400 million (0.6% of 2019 GDP) coverage of employees’ leave for family reasons, (b) EUR1 billion (1.6% GDP) paying partial-unemployment benefits, and (c) EUR50 million (0.1% percent of 2019 GDP) providing non-repayable financial aid to micro enterprises; (ii) Part of the fiscal package adopted by the Parliament: Postponing tax and social-security contribution payments for the first two quarters of the year (EUR4.5 billion); April 30, EUR2.257 billion fiscal package has been partly adopted by the Parliament, including spending measures: Key spending measures include: (a) acquiring medical equipment and infrastructure (EUR194 million, 0.3% of 2019 GDP); (b) covering employees’ leave for family reasons (EUR226 million, 0.4% of 2019 GDP) and sick leave (EUR106 million, 0.2% of 2019 GDP); (c) paying partial-unemployment benefits (EUR1 billion, 1.6% of 2019 GDP); (d) granting capital advances to cover companies’ operating costs (EUR400 million, 0.6% of 2019 GDP); and (e) providing non-repayable financial aid to micro enterprises and eligible self-employed (EUR250 million, 0.4% of 2019 GDP); (iii) Liquidity support measures include postponing tax and social-security contribution payments for the first half of the year (EUR4.55 billion); (iv) EUR800 million estimated as total cost of the following measures: (a) cash grants to companies in heavily affected sectors that still do not have authorization to reopen, (b) lump-sum stimulus for SMEs in retail trade, (c) doubling the cost-of-living-allowance and introducing a family-support leave, and (d) investment aid for development, process/organizational innovation, or energy efficiency projects. [update]

Netherlands 05B 05B - Income support EUR 51,070,000,000 56,493,362,832 OECD. http://www.oecd.org/coronavirus/en/ (accessed 22 May 2020); Bruegel. https://www.bruegel.org/publications/datasets/covid-national-dataset/#netherlands (accessed 15 April 2020); Rijksoverheid. https://www.rijksoverheid.nl/actueel/nieuws/2020/05/01/110-miljoen-euro-ondersteuning-voor-sportverenigingen (accessed 11 May 2020). Rijksoverheid. https://www.rijksoverheid.nl/actueel/nieuws/2020/05/15/%E2%82%AC500-miljoen-extra-voor-studenten-en-zomerscholen (accessed 22 May 2020). Global Tax News. https://www.tax-news.com/news/Netherlands_Clarifies_COVID19_VAT_Concessions____97711.html (accessed 29 May 2020). Rijksoverheid. https://www.rijksoverheid.nl/actueel/nieuws/2020/05/20/kabinet-investeert-in-doorbouwen (accessed 1 June 2020)

(i) April 1, EUR10 billion for temporary compensation of employers’ wage costs, up to 90% of wage bill, conditional on at least 20% fall in turnover in the months March to May compared to 2019 (NOW scheme). In addition, the government will cover 30% of pension contributions and the employers' premium; (ii) EUR2 billion for compensation of self-employed and independent entrepreneurs without staff; (iii) EUR465 million in emergency support in the form of a lump sum of EUR4,000 for businesses that were forced to close doors due to government regulations (TOGS scheme); (iv) EUR175 million for Childcare Compensation for parents who continue paying for childcare during the lockdown (8 April); (v) EUR36 billion for deferral of tax collection of VAT, income, corporate, wage and turnover taxes from companies. Furthermore, under the measures, default penalties will not need to be paid in cases where extensions are approved, while interest on overdue taxes will be reduced to 0.01% until October 1, 2020; (vi) No amount/estimate: April 1, the government will cover 30% of pension contributions and the employers' premium; (vii) No amount/estimate: March 30, self-employed (without employees) hit by the corona crisis are to receive monthly 1,050 'euros over the next three months, irrespective of their savings. For married couples or couples with children a maximum of EUR 1,500 a month will apply; (viii) April 17, EUR300 million grants for the culture sector, including museums and theatres; (ix) May 1, EUR110 million to support sports clubs; (x) No amount/estimate: May 20, The government will compensate public transport companies for the loss of income and extra costs they face due to the crisis; (xi) May 20, EUR500 million allocated to education spending. EUR200 million will go to students to mitigate the consequences of the coronavirus epidemic, and EUR244 million will go to primary, secondary, and vocational education to make up for educational gaps caused by the coronavirus; (xii) May 20, Short-term measures for the construction sector: (a) EUR50 million in construction projects, (b) Increased subsidies for citizens to make their homes more environmentally sustainable (the “SEEH scheme"), (c) EUR20 million available for municipalities in the form of “flex pools” (civil servants with technical knowledge about planning and licensing), (d) EUR50 million in housing incentives for prospective homeowners belonging to vulnerable groups; (xiii) EUR1.4 billion allocated for tax-free allowances to affected SMEs to pay their fixed material costs. [update]

New Zealand 05B 05B - Income support NZD 25,100,000,000 15,180,839,482 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 5 June 2020); New Zealand Treasury. https://treasury.govt.nz/news-and-events/news/wage-subsidy-extension-announced (accessed on 15 May 2020).

April: (i) Total NZD2.4 billion (0.8% of GDP) as permanent increase in social spending to protect vulnerable people over the next 4 years; (ii) NZD13 billion (4.3% of GDP), a lumpsum 12-week wage subsidy to support employers severely affected by the impact of COVID-19. On May 14, the government announced additional funding of up to NZD3.2 billion in Budget 2020 for a targeted extension of the wage subsidy. The targeted extension provides for a further 8 weeks of payments after the program ends on June 9; (iii) NZD2.8 billion (0.9% of GDP) of permanent change in business taxes to help cashflow over the next 4 years; (iv) NZD3.1 billion as temporary tax loss carry-back scheme (1% of GDP) over the next 2 years; (v) NZD0.6 billion (0.2% of GDP) support for the aviation sector; (vi) No amount/measure: 6-month freeze on residential rent increases and increased protection of tenants for termination of tenancies.

Norway 05B 05B - Income support NOK 125,473,600,000 12,277,069,161 Ministry of Finance. https://www.regjeringen.no/en/aktuelt/economic-measures-in-norway-in-response-to-covid-192/id2695355/ (accessed 12 April 2020); Ministry of Finance. https://www.regjeringen.no/en/aktuelt/additional-financial-measures-to-mitigate-the-economic-effects-of-the-coronavirus-crisis/id2696548/ (accessed 12 April 2020). Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 29 May 2020).

March 27: (i) NOK30.7 billion, mitigating income loss for businesses; (ii) NOK20.8 billion, mitigating income loss for persons; (iii) NOK5.5 billion, other compensation schemes; (iv) NOK2.7 billion, aviation sector support excluding guarantee portion; (iv) Automatic stabilizers: (a) NOK37 billion reduced tax revenues (Includes increased taxes due to the extensions of the unemployment benefit scheme and new income protection schemes for self-employed and freelancers), (b) NOK18  billion, increased expenditure on unemployment benefits, (c) NOK4 billion, increased sickness allowance; April 3: (v) Additional spending in the following areas: (a) help for students who have lost work income (NOK1 billion), (b) a temporary benefit for apprentices (NOK250 million), (c) compensation for reduced parental payment to after-school care (NOK1 billion), (d) skill development measures (NOK190 million), (e) home-based instruction (NOK 3 billion), (f) coronavirus information for immigrant groups (NOK6.6 million), (g) temporary purchase of basic rail transport services (NOK550 million), (h) deferrals for beverage taxes (NOK14 million), (i) deferral of fuel and mineral product taxes (NOK18 million), (j) exemption on natural gas taxes (NOK40 million), (k) suspension of the horse-racing tax(NOK 100 million), (l) support for temporarily laid-off employees with private pensions, and (m) support for the reindeer industry (NOK20 million); (vi) May 14; NOK500 million housing support funds to increase number of elibible to receive housing assistance; (vii) May 15, NOK15 million paid to six universities to provide education to the laid-off and unemployed; (viii) May 18, NOK20 million increased the support scheme for small and large companies that develop defense technology; (ix) June 8, NOK50 million to Norwegeian school and universities to pay for online training for unemployed and laid-off workers.

Portugal 05B 05B - Income support EUR 7,225,000,000 7,992,256,637 OECD. http://www.oecd.org/coronavirus/en/ (accessed 21 May 2020).

(i) EUR1 billion per month (0.5% GDP) in financial support for those temporarily furloughed by their employer; (ii) EUR6.2 billion (3.2% GDP) of (within-year) tax and social security contribution deferrals for companies and employees; (iii) No amount/estimate: Additional financial support is also provided for: the self-employed affected by the virus; people forced to stay home to care for children, and; those sick or in isolation; (iv) EUR25 million fiscal package to support the entrepreneurship ecosystem.

Spain 05B 05B - Income support EUR 49,827,842,000 55,119,294,248 OECD. http://www.oecd.org/coronavirus/en/ (14 May 2020). Bruegel. https://www.bruegel.org/publications/datasets/covid-national-dataset/#spain (accessed 12 April 2020; 30 April 2020); Communicatio Cabinet. http://prensa.mitramiss.gob.es/WebPrensa/noticias/seguridadsocial/detalle/3787 (accessed 2 May 2020); Gabinete de Comunicacion. http://prensa.mitramiss.gob.es/WebPrensa/noticias/ministro/detalle/3822 (accessed 31 May 2020); Various Royal Decree-Laws.

(i) March 9, Extension of the unemployment benefit to cover workers whose contracts under trial period have been terminated since March 9, and for workers who voluntarily terminated their contract since March 1 because they had a firm job offer that has been withdrawn (EUR42 million); (ii) March 10, Increased sick pay for coronavirus infected workers or those quarantined, from 60 to 75% of the regulatory base, paid by the social security budget (EUR1.4 billion); (iii) March 12, Supplemental credit of EUR25 million to cover meal allowances to ensure the basic access to food for vulnerable children affected by the suspension of educational activity in schools; (iv) March 12, 50% exemption from employers social security contributions, from February to June 2020, for workers with permanent discontinuous contracts in the tourism sector and related activities (EUR45 million); (v) March 12, Possibility for SMEs and self-employed workers to defer tax payments for six months without paying interest (injection of up to EUR14 billion); (vi) March 12, Possibility for SMEs and self-employed workers to defer tax payments for six months without paying interest rate (lost interest, EUR8.9 million); (vii) March 12, Suspension for one year of the payment of interest and amortizations corresponding to various loans granted by the Secretary of State for Tourism, within the framework of the Emprendetur Program (lost interest, EUR0.742 million); (viii) March 12, Postponement of debts derived from customs declarations - Postponement of the entry of the customs and tax debt corresponding to the customs declarations filed until May 30, 2020, provided that the amount of the debt to be postponed is greater than 100 euros (EUR2.7 million); (ix) March 17, Changes in the temporary employment adjustment schemes (ERTEs) in order to avoid outright dismissal: simplification, extension of access conditions, entitlement of unemployment benefit for workers affected by ERTE, with no requirement for prior minimum contribution or reduction of accumulated entitlement (EUR17.8 billion); (x) March 17, An extraordinary allowance is provided for self-employed workers affected by the suspension of economic activity (70% of the SSC base, at least for one month) (EUR3.8 billion); (xi) March 17, Additional budgetary funds of EUR300 million to ensure the provision of assistance to dependent persons; (xii) March 17, Additional flexibility for local authorities to use their 2019 budgetary surplus to fund social services and primary assistance to dependent persons (EUR347 million); (xiii) March 17: Extraordinary contribution measures in relation to the procedures for suspension of contracts and reduction of working hours due to force majeure related to the Covid-19 (suspension of SS contributions, EUR2.22 billion); (xiv) March 31, A temporary allowance for temporary workers whose contracts (with at least two months duration) expires during the state of emergency and have not reached the minimum contribution to receive UB (around EUR 430) (EUR17.6 million); (xv) March 31, A temporary subsidy for household employees affected by the crisis (70% of the regulatory base) (EUR3.1 million); (xvi) March 31, Extension of the temporary contracts of university teachers and research staff during the state of emergency (EUR3.8 million); (xvii) March 31, Specific program for victims of gender violence, homeless people and others who are especially vulnerable to provide them with an immediate housing solution (EUR50 million); (xviii) March 31, Rental assistance programs for vulnerable renters and additional state contribution to the State Housing Plan 2018-21 (EUR400 million); (xix) March 31, 6-month suspension of social security contributions for the self-employed (for the period May-July) and companies (for the period April-June) without interest (EUR352 million); (xx) Deferral of SSC debts for the self-employed and companies (EUR350 million); (xxi) April 14, Extension of deadlines for filing tax returns in April to 20 May for SMEs and the self-employed (liquidity of EUR3.5 billion); (xxii) April 21, Reduction of the contributions for certain agricultural workers during periods of inactivity in 2020 and simplification of the procedure for deferring Social Security debt (EUR43 million); (xxiii) April 21, Measures to align the tax bases to the current situation: the use of the 'direct estimation method' by self-employed workers for the calculation of certain personal income tax and VAT payments, which will allow to adjust these payments during the state of alarm to the real income received; the adjustment of advance corporate tax payments to the estimated revenues in 2020 (EUR1.1 billion of liquidity); (xxiv) April 21, No inclusion as days of exercise of the activity the days of the alarm state for the calculation of the fractional payments in the objective estimation method of the Personal Income Tax and the payment on account of the simplified VAT regime; (xxv) April 21, Reduction of VAT applicable to the supply of medical equipment from national producers to public entities, non-profit organizations and hospital centers to 0%, in line with the EU (EUR1 billion); (xxvi) April 21, Reduction the VAT on electronic books, newspapers to align them with that on paper ones (EUR24 million); (xxi) April 21, (EUR200 million) No inclusion as days of exercise of the activity the days of the alarm state for the calculation of the fractional payments in the objective estimation method of the Personal Income Tax and the payment on account of the simplified VAT regime; (xxvii) May 29, The Council of Ministers passed a Royal Decree-Law which guarantees a minimum income to 850,000 families. Total cost of the subsidy is estimated in EUR3 billion per year. This measure was already foreseen before the COVID, although its implementation has been accelerated because of the pandemics. It will be a permanent measure.

Sweden 05B 05B - Income support SEK 415,631,000,000 42,258,892,668 OECD. http://www.oecd.org/coronavirus/en/ (accessed 19 April, 7 &15 May 2020); Ministry of Finance. https://www.government.se/press-releases/2020/05/reinforced-measures-for-employees-and-businesses (accessed 19 May 2020); Ministry of Enterprise and Innovation. https://www.government.se/press-releases/2020/05/unemployed-people-matched-to-green-industries/ (accessed 4 June 2020).

(i) March 16, SEK20 billion subsidy for short-term lay-offs; (ii) March 20, SEK500 million (EUR45 million, 0.01% of GDP) for cultural activities that lose revenue as a result of the restriction on public events and the same amount for sports; (iii) March 25, SEK33 billion for temporary reduction of employers' social security contributions to the old age pension contribution; (iv) March 25, SEK5 billion for temporary discount for rental costs in vulnerable sectors (consumer goods, hotels, restaurants and certain other activities), government covering 50%; (v) March 25, SEK20 billion for cancelling taxable profits of SMEs (sole proprietors and partners in Swedish partnerships) for 2019; (vi) March 25, SEK315 billion, companies can defer 3 months payment of employer social security contributions, preliminary tax on salaries and VAT for up to 12 months, with interest; (vii) March 25, To support SMEs, it will also be allowed to defer the value-added tax reported annually. Hence, companies can defer the payment of last year's VAT that is due shortly. If this is used to the maximum, it can amount to SEK7 billion; (viii) SMEs can claim back the preliminary tax paid in 2019 and either pay it later or set it off against future losses (the maximum liquidity reinforcement could amount to SEK13 billion); (viii) May 7, Higher ceiling for unemployment insurance benefits (SEK1.1 billion); (ix) May 19, Allocated SEK720 million to extend maintenance work on railways, and increased road maintenance by SEK300 million. In light of the coronavirus, the reduced traffic allowed the government to pursue infrastructure spending. In addition to improvements in rail and road networks, the investment also contributes positively to employment; (x) May 27, The Swedish Agency for Economic and Regional Growth mandate is being strengthened (SEK11 million) so to facilitate the matching of unemployed people to the green industries [update].

Switzerland 05B 05B - Income support CHF/CHE/CHW 52,613,000,000 54,950,899,085 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 21 MAy 2020); State Secretariat for Economic Affairs. https://www.seco.admin.ch/seco/de/home/seco/nsb-news.msg-id-78573.html (accessed 19 April 2020); Federal Council. https://www.efd.admin.ch/efd/de/home/dokumentation/nsb-news_list.msg-id-78813.html (accessed 19 April 2020); Federal Council. https://www.efd.admin.ch/efd/de/home/dokumentation/nsb-news_list.msg-id-79056.html (accessed 14 May 2020). WBF. https://www.wbf.admin.ch/wbf/de/home/dokumentation/nsb-news_list.msg-id-79188.html (accessed 21 May 2020). MENAFN. https://menafn.com/1100273248/Switzerland-Parliament-approves-extra-CHF149-billion-for-Covid-relief (accessed 12 June 2020).

(i) March 13, up to CHF8 billion for partial unemployment compensation; (ii) March 13, CHF1 billion for financial aid to particularly affected firms; (iii) March 13, CHF0.42 billion compensation for cancelled events; (iv) March 20, CHF12 billion for (a) temporary, interest-free deferral of social-security contribution payments; (b) extended payment periods for taxes and payables to federal suppliers; (c) extension of short-time work allowance; and (d) compensation for loss of earnings; (v) March 25, The Federal Council announced a set of additional measures to support the economy, which are estimated to cost around CHF600 million per month in unemployment insurance; vi) April 16, Extension of the right to corona-replacement earnings to the self-employed (CHF1.3 billion over a two-month period). Parents with special-needs children may receive benefits until the child reaches 20 years of age (CHF33 million over a six-month period); (vii) April 22, the FC extended the loss compensation for the self-employed to May 16 even if they had reopened their business on an earlier date; (viii) May 8, Support worth CHF65 million for childcare institutions that have lost earnings due to the coronavirus pandemic; (ix) May 20, CHF75 million financial support to the private institutions of family-supplementary childcare for childcare contributions from parents; (x) May 20, CHF20 million support for the wine industry; (xi) May 20, CHF14.2 billion additional unemployment insurance funding; (xii) June 4, CHF14.9 billion agreed by parliament, most will go towards unemployment insurance which finances short-time work compensation. [update]

Turkey 05B 05B - Income support TRY 75,000,000,000 12,395,118,774 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 16 April 2020); Anadolu Agency. https://www.aa.com.tr/en/economy/turkey-working-on-broad-employment-shield-package/1866501 (accessed 5 June 2020); Daily Sabah. https://www.dailysabah.com/business/economy/turkey-could-extend-ban-on-layoffs-for-3-more-months-report-says (accessed 8 June 2020).

(i) TRY75 billion in fiscal measures. Key support measures include (a) raising minimum pension and cash assistance to families in need, (b) reduced/postponed taxes for affected industries (particularly tourism), (c) direct support to Turkish Airlines and other affected entities, (d) extension of personal and corporate income tax filing deadlines; and (e) increased work flexibility; (ii) No amount/estimate: June 5, The government announced that it is working on a comprehensive "employment shield" package through the Family, Labor and Social Services Ministry [update]; (iii) June 7, The total short-term employment allowance the country provided has reached TRY5.1 billion, beneftting 3 million workers [update].

Turkmenistan 05B 05B - Income support TMT
United Kingdom 05B 05B - Income support GBP 145,565,000,000 180,224,357,330 OECD. http://www.oecd.org/coronavirus/en/ (acessed 15 May 2020); Office for Budget Responsibility. https://obr.uk/download/coronavirus-reference-scenario-charts-tables/ (accessed 3 May 2020); GOV.UK. https://www.gov.uk/government/news/up-to-15-million-to-support-the-citizens-advice-service-during-covid-19-pandemic (accessed 31 May 2020); GOV.UK. https://www.gov.uk/government/news/chancellor-extends-self-employment-support-scheme-and-confirms-furlough-next-steps (accessed 5 June 2020).

(i) March 20, VAT payments of around GBP30 billion for the second quarter of 2020 are deferred until 2021; (ii) April: (a) Employment support: Coronavirus Job Retention Scheme (GBP42 billion; as of June 4, estimate was GBP54 billion [update]), Self-employed income support scheme (GBP10 billion; as of June 4, estimate was GBP15 billion [update]) (b) Household Support: Statutory sick pay support (GBP1 billion), Welfare package (GBP7 billion; as of June 4, estimate was GBP8 billion [update]), Local authority funding to support vulnerable people (GBP0.5 billion); Suspending benefit recovery (no amount yet); (c) Business support: Small business grant schemes (GBP15 billion), Business rates package (GBP13 billion), Off-payroll working delay extension to private sector by 1 year (GBP1.2 billion), VAT on e-publications - early introduction (GBP0.1 billion, June 4) [update]; (d) Funds for devolved administrations (GBP3.5 billion = GBP1.6 billion local + GBP1 billion Scotland + GBP0.6 billion Wales + GBP0.3 billion Northern Ireland.); (f) Railway services operation (GBP3.5 billion); (iii) Apri 8, Charities across the UK will receive a GBP750 million package of support to ensure they can continue their vital work during the coronavirus outbreak; (iv) May 23, GBP15 million to support the Citizens Advice service during COVID-19 pandemic (advice and information on a range of financial, legal, and consumer issues); (v) May 29, the Self-Employment Support Scheme is extended until August, but government contribution will be slowly tapered from 80% of the salary in June to August to 70% in September and 60% in October [update].

United States 05B 05B - Income support USD 1,144,800,000,000 1,144,800,000,000 Bloomberg. https://www.bloomberg.com/news/articles/2020-03-25/what-s-in-congress-2-trillion-coronavirus-stimulus-package; US Congress. https://www.congress.gov/116/plaws/publ123/PLAW-116publ123.pdf; US Congress. https://www.congress.gov/bill/116th-congress/house-bill/6201/text (all accessed 16 April 2020). Treasury https://home.treasury.gov/news/press-releases/sm998 (accessed 6 May 2020).

(i) Includes USD290 billion direct payment to families; USD290 billion for tax cuts; USD260 billion for unemployment insurance; USD150 billion for state and local funds; USD101 billion for education, infrastructure, and FEMA; USD32 billion grants for airlines; USD17 billion for national security; and (ii) On May 5, the Treasury announced that USD4.8 billion in critical funds available to Tribal governments in all states.

Australia 05B 05B - Income support AUD 11,500,000,000 7,150,699,995 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 8 May 2020).

(i) AUD194 billion (9.7% of GDP) support on measures including (a) wage subsidies (6.7% of GDP), (b) income support to households, (c) cash flow support to businesses, (d) investment incentives, (e) targeted measures for affected regions and industries, and (f) an advance authorization of AUD40 billion for unforeseen events. (See Measure 9: No breakdown); (ii) State and territory governments announced stimulus packages of a total of AUD11.5 billion (0.6% of GDP) including payroll tax relief for businesses and relief for households, such as (a) discount utility bills, (b) cash payments to vulnerable households, and (c) support for health spending; (iii) No amount/estimate: The Commonwealth government has committed to provide free childcare to around one million families and announced targeted support to the education system.

Austria 05B 05B - Income support EUR 35,000,000,000 38,716,814,159 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#A (accessed 09 May 2020); OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 15 April 2020); Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 14 May 2020).

(i) April 13, Increased to EUR10 billion (from EUR5 billion) funds for short-time working, self-employed and funds to finance increased costs of caretaking, etc.; (ii) EUR15 billion emergency funds for hard-hit industries to provide direct liquidity provisions and subsidies for running costs. On April 27, expanded Phase 2 of the hardship fund, through which SMEs may request up to 6000 Euros from the government; (iii) EUR10 billion for payment deferrals of personal income and corporate income taxes; (iv) No amount/estimate: rent payment deferrals; (v) No amount/estimate: May 13, proposed a more simple calculation method to determine monetary subsidies by companies to their employees from their own accounts and from the government's funding. Under the new system, no employee should have any losses [update].

Belgium 05B 05B - Income support EUR
Canada 05B 05B - Income support CAD 37,066,600,000 26,566,278,445 Dept. of Finance. https://www.canada.ca/en/department-finance/economic-response-plan.html?topic=ex-col-faq

(i) Emergency care benefit- CAD10 billion (ii) Emergency Support Benefit- CAD5 billion. (iii) GST Credit- CAD5.5 billion. (iv) Enhanced Canada Child Benefit- CAD1.9 billion. (v) Temporary Business Wage Subsidy- CAD3.8 billion. (vi)Canada Student Loan Payments- CAD190 million. (vii) Support for Indigenous Communities- CAD305 million. (viii) Support for people experiencing homelessness (through Reaching Home)- CAD157.5 million. (ix) Support for women’s shelters and sexual assault centres including on reserve- CAD50 million. (x) Lower Registered Retirement Income Fund Minimum Withdrawal Amounts-CAD495 million (xi) No amount/estimate-Launching Canda Emergency Wage subsidy (CWES) calculator,the CEWS applies at a rate of 75% of the first CAD58,700 normally earned by employees—representing a benefit of up to CAD847 per week, per employee. The program is in place for a 12-week period, from March 15 to June 6, 2020. (xii) CAD20.1 million in support for Futurpreneur Canada to continue supporting young entrepreneurs across Canada who are facing challenges due to COVID-19. (xiii)CAD15 million in non-repayable support for businesses in the territories to help address the impacts of COVID-19; (xiv)CAD675 million to give financing support to small and medium-sized businesses that are unable to access other COVID-19 business supports, through Canada's Regional Development Agencies; (xv)CAD274 million Creating new jobs and opportunities for youth; (xvi) No amount/estimate; Canada Emergency Response Benefit (CERB) provides a taxable benefit of CAD2,000 every 4 weeks for up to 16 weeks to eligible workers who have lost their income due to COVID-19; (xvii) CAD2.47 billion- clean energy; (xviii) CAD350 million-to support vulnerable Canadians through charities and non-profit organizations; (xviii) No amount/estimate- Waiving ground lease rents through December 2020 for airport authorities that pay rent to the federal government; (xix) CAD500 million-COVID-19 Emergency Support Fund for cultural, heritage, and sport organization to address financial needs of affected organizations so they can continue to support artists and athletes; (xx) CAD5.365 billion for agriculture and fisheries; (xxi) No amount/estimate- Increased payments of 50% to 75% to AgriStability to support farmers that face significant revenue declines; (xxiii) No amount/estimate Flexibility for individual and corporate taxpayers (tax payment deferral until September).

Denmark 05B 05B - Income support DKK 246,437,000,000 36,484,715,269 OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 30 April 2020). Denmark Government. https://bm.dk/nyheder-presse/pressemeddelelser/2020/05/regeringen-freder-elever-laerlinge-og-praktikanters-ferie-og-fridage-under-loenkompensation/ (accessed 14 May 2020)

(i) March 10, DKK32.5 billion liquidity effect of deferral of monthly VAT payments for large firms; (ii) March 12, No amount/estimate: Short-time Work Scheme made more flexible ; (iii) DKK10 million for upskilling of dismissed employees; (iv) DKK1.7 billion sickness benefit reimbursement available from 27 February to 1 January 2021; (v) March 26, DKK1.1 billion liquidity effect of deferral of property taxes; (vi) DKK2.5 billion frontloading of investments in e.g. energy renovation and similar initiatives in municipalities; (vii) March 26, DKK6.5 billion frontloading of payment by local governments to firms; (viii) March, DKK74 billion liquidity effect of deferral of income tax payment and labor market contributions; (ix) April 1, DKK300 million compensation scheme to event organizer companies extended; (x) April 7, DKK1.2 billion for a range of minor support schemes established to support agents and businesses with cultural activities, sports and private education; (xi) April 18, DKK 6 billion for the Job Retention Scheme available from 9 March to 8 July 2020. Take-up rate around 5% of the labour force (150,000 employees) on 19 April; (xii) April 18, DKK277 million for increased access to unemployment and sickness benefits; (xiii) April 18, DKK65.3 billion compensation scheme for companies’ fixed costs available for the period 9 March to 8 July; (xiv) April 18, DKK14.3 billion compensation scheme for self-employed; (xv) April 18, DKK350 million for Innovation Subsidy Scheme to support new projects; (xvi) April, DKK35.4 billion VAT payments already made for second half and last quarter of 2019 are made available as interest free loans; (xvii) April, DKK5 billion liquidity impact of deferral of provisional taxes for self-employed; (xviii) May 14, No amount/estimate: Increased holiday and time-off benefits for students, apprentices, and trainees. [update]

European Central Bank 05B 05B - Income support EUR
European Union 05B 05B - Income support EUR 212,179,000,000 234,711,283,186 OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 15 April 2020); EC. https://ec.europa.eu/regional_policy/en/newsroom/news/2020/01/14-01-2020-financing-the-green-transition-the-european-green-deal-investment-plan-and-just-transition-mechanism (accessed 19 April 2020).

(i) Mobilised European Globalisation Adjustment Fund to support dismissed workers and those self-employed (up to EUR179 million available in 2020); (ii) EUR100 billion to finance the short-term unemployment mechanisms through the loans provided by the EU Commision to EU member states (SURE mechanism) backed by EUR 25 billion of guarantees voluntarily committed by Member States to the EU budget. ; (iii) no amount/estimate: March 19, EU Comission intends to allow State aid for struggling businesses and enable Member States to use the full flexibility foreseen under State aid rules; (iv) March, EUR37 billion unallocated funds of cohesion policy funding 2014-2020 will be eligible for Coronavirus crisis related expenditure within the Corona Response Investment Initiative. Member States can use them to support public investment for hospitals, SMEs, labor markets, and stressed regions. The Coronavirus Response Investment Initiative Plus (CRII+), proposed on 2 April, complements the CRII by further enhancing flexibility in the use of cohesion funds. This enhanced flexibility is inter alia provided through transfer possibilities across the three cohesion policy funds (the European Regional Development Fund, European Social Fund and Cohesion Fund), transfers between the different categories of regions (e.g. less vs more developed), flexibility regarding thematic concentration, the possibility for a 100% EU co-financing rate for the accounting year 2020-2021, and simplified procedural steps; (v) European Green Deal investments will remain a priority as part of the EU's efforts to kickstart its economy post-crisis. One of its three sources of funding is a grant, the A Just Transition Fund, which will receive EUR7.5 billion of fresh EU funds. In order to tap into their share of the Fund, Member States will, in dialogue with the Commission, have to identify the eligible territories through dedicated territorial just transition plans. They will also have to commit to match each euro from the Just Transition Fund with money from the European Regional Development Fund and the European Social Fund Plus and provide additional national resources. Taken together, this will provide between EUR30 and EUR50 billion of funding. It will, for example, support workers to develop skills and competences for the job market of the future and help SMEs, start-ups and incubators to create new economic opportunities in these regions. It will also support investments in the clean energy transition, for example in energy efficiency. Another source of funds for this initiative is a public sector loan facility with the European Investment Bank backed by the EU budget to mobilise between EUR25 and EUR30 billion of investments. It will be used for loans to the public sector, for instance for investments in district heating networks and renovation of buildings.

Finland 05B 05B - Income support EUR 21,573,000,000 23,863,938,053 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#F (accessed 9 May 2020); MEE. https://tem.fi/artikkeli/-/asset_publisher/ensimmaiset-valtionavustukset-kunnille-yksinyrittajien-tukemiseksi (accessed 3 May 2020).

March 20, (i) EUR1.05 billion (increased from EUR900 million) in lower pension contributions through the remainder of 2020; (ii) EUR650 million for grants to SMEs and self-employed; and (iii) EUR3 billion for expanded parental allowance, social assistance and unemployment insurance; (iv) EUR4.5 billion in tax and pension payment deferrals; (v) EU12 billion in increase in fiscal deficit from automatic stabilizers (4-5.0) percentage points of GDP; (vi) April 20, EUR250 million grants for sole proprietors for the cost of running business; (vii) EUR40 million to support restaurants in employing workers and EUR83 million compensation for the imposed restrictions on activities [update].

France 05B 05B - Income support EUR 66,640,000,000 73,716,814,159 OECD. http://www.oecd.org/coronavirus/en/ (accessed 14 May 2020); Economie. https://www.economie.gouv.fr/coronavirus-startup-mesures-de-soutien-economique (accessed 15 April 2020); Figaro. https://www.lefigaro.fr/flash-eco/le-gouvernement-annonce-390-millions-d-euros-pour-le-transport-routier-20200417 (accessed 2 May 2020);

(i) EUR8.5 billion for short-time work scheme; (ii) April 27, EUR7 billion (increased from EUR1.5 billion) for the solidarity fund to support income for the self-employed and smallest firms; (iii) EUR48.5 billion in postponement of social and fiscal deadlines and the early reimbursements of tax credits (2.0% of 2019 GDP); (iv) No amount/estimate: tax exemptions for bonuses in "essential" sectors; (v) March 25, EUR1.75 billion in tax breaks and grants to startups; (vi) April 20, EUR390 million road transport fund (liquidity for road transport sector); (vii) EUR0.5 billion for postponement of part of the unemployment insurance reform [update].

Germany 05B 05B - Income support EUR 567,700,000,000 627,986,725,664 Federal Ministry of Finance. https://www.bundesfinanzministerium.de/Content/EN/Pressemitteilungen/2020/2020-03-23-supplementary-budget.html (accessed 17 April 2020); Bruegel. https://www.bruegel.org/publications/datasets/covid-national-dataset/#germany (accessed 17 April 2020); Federal Ministry of Finance and Federal Ministry for Economic Affairs and Energy. https://www.bmwi.de/Redaktion/EN/Downloads/a/a-protective-shield-for-employees-and-companies.pdf?__blob=publicationFile&v=3 (accessed 17 April 2020); Tax Foundation. https://taxfoundation.org/kurzarbeit-germany-short-work-subsidy-scheme/ (accessed 17 April 2020); OECD. https://www.oecd.org/coronavirus/en/ (accessed 30 April 2020; 8 May 2020); Bundesministerium der Finanzen. https://www.bundesfinanzministerium.de/Content/DE/Pressemitteilungen/Finanzpolitik/2020/05/2020-05-06-Hilfen-Gastronomie.html (accessed 9 May 2020)

(i) March 23, EUR50 billion in direct grants to distressed one-person businesses and micro-enterprises; (ii) EUR7.7 billion to expand access to welfare payments such as child allowance and income support, removing means-testing rules, and including self-employed workers; (iii) EUR500 billion (Bruegel estimate) tax deferrals for businesses, that is, EUR70 billion for direct corporate income tax plus EUR430 billion if we include indirect taxes and social contributions (assuming 75% tax deferral and 5% of gross domestic product [GDP] loss in 2020); (iv) EUR10 billion for keeping people employed, by expanding the reduced hours compensation benefit scheme (‘Kurzarbeitergeld’); and (v) Subsidies to loans (included in the EUR357 billion mentioned in Measure 1) made available through KfW; (vi) No amount/estimate: April 22, The government decided to increase the replacement rate of lost net earnings to 70% for childless workers and to 77% for workers with children from the fourth month of short-time work onwards if they have reduced their working time by at least 50%. In the seventh month, payments are increased further to 80% and 87% respectively; (vii) April, The labour agency will cover 100% of social-security contributions for lost hours of short-time workers; (viii) No amount/estimate: Starting on July 1, the reduced VAT rate of 7% will be applicable to restaurants for 12 months [update]; (ix) No amount/estimate: May 6, (a) Sales tax rate for restaurant and catering services rendered between 30 June 2020 and 1 July 2021 will be reduced from 19% to 7%, except for beverage sales; (b) Employer grants for short-time work benefits and seasonal short-time work benefits for wage payment between 29 February 2020 and 1 January 2021 will be up to 80% of the difference between the target salary and the actual salary [update]; (x) No amount/estimate: May 14, The ruling coalition agreed to extend the maximum unemployment benefit duration by three months for all claimants whose entitlements end between 1 May and 31 December [update].

Ireland 05B 05B - Income support EUR 8,550,000,000 9,457,964,602 OECD. http://www.oecd.org/coronavirus/en/ (accessed 15 April 2020); DBEI. https://dbei.gov.ie/en/News-And-Events/Department-News/2020/May/02052020.html (accessed 9 May 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 9 May 2020).

March 9, The government has so far announced a stimulus package of EUR6.3 billion (3.2% of GDP) in response to the COVID-19 pandemic. It includes EUR2.4 billion for illness benefit payments announced on 9 March, as well as a further EUR3.7 billion announced on 24 March to cover the cost of a new Wage Subsidy Scheme. The government has also announced direct financial support for businesses. No amount/estimate: (i) Local Enterprise Offices in every county will be providing vouchers from EUR2,500 up to EUR10,000; (ii) a Finance in Focus grant of EUR7,200 will be available to Enterprise Ireland and Údarás na Gaeltachta clients; (iii) the government agreed with local authorities that they should defer business rates payments due from the most immediately affected businesses until the end of May; (iv) variety of taxation measures to alleviate short-term difficulties. For example, interest on late payments and all debt enforcement activity have been suspended and current tax clearance status will remain in place for all businesses; (v) Moratoriums on evictions and rent increases for duration of Covid emergency. The Commission for Regulation of Utilities has issued a moratorium on disconnections of domestic customers for non-payment to the gas and electricity suppliers; (vi) EUR250 million restart grant for micro and small businesses based on a rates/waiver rebate from 2019 [update]; (vii) EUR2 billion (estimate) for a three month commercial rates waiver for impacted businesses and the ‘warehousing’ of tax liabilities for a period of twelve months after recommencement of trading during which time there will be no debt enforcement action taken by Revenue and no interest charge accruing in respect of the warehoused debt [update].

Italy 05B 05B - Income support EUR 23,455,000,000 25,945,796,460 OECD. http://www.oecd.org/coronavirus/en/ (accessed 15 May 2020); MIPAAF. https://www.politicheagricole.it/flex/cm/pages/ServeBLOB.php/L/IT/IDPagina/15431 (accessed 18 May 2020); Milano Today. https://www.milanotoday.it/attualita/coronavirus/decreto-rilancio.html#13 (18 May 2020).

(i) EUR5.0 billion to strengthen the wage supplementation scheme for furloughed employees; (ii) EUR400 million for one-year suspension in the repayment of real estate mortgages by workers having lost their job; (iii)EUR2.3 billion for one-off EUR 600 payment to the self-employed &seasonal workers; (iv) No amount/estimate: Allowance of EUR500 per month for up to 3 months for self-employed workers in the municipalities most affected; (v) EUR1.3 billion to strengthen childcare support; (iv) EUR30 million for EUR1000 childcare payment to employees in the healthcare and law enforcement sectors; (v) EUR0 5 million to raise by 12 days the paid leave for disabled workers and workers caring for a disabled relative; (vi); EUR130 million to extend sick leave to cover days spent in quarantine; (vii) EUR900 million for a EUR 100 one-off bonus to workers who continued to work at their workplace. For companies: (i) EUR540 million for 60% tax credit on commercial rents; (ii) EUR50 million for incentives to firms to sanitise workplaces; (iii) EUR600 million for suspension of collection of tax collection files; (iv) suspension for 2 months of tax and social security payments in the municipalities most affected; (v) EUR10 billion for suspension of all the tax and social security payments coming due in March; (vi) suspension of 2 months (until end of April) in the payment of the electricity, gas, water and waste bills in the most affected municipalities; (vii) Non-application of withholding tax for professionals without employees, with revenues below EUR400,000 until 31 May 2020; (viii) Incentive to sell impaired loans (NPLs) by converting deferred tax assets (DTA) into tax credits for financial and industrial companies; (ix) EUR1.7 billion to provide fee-free guarantee for SMEs loans [update]; (x) EUR500 million Emergency Fund to protect supply chains in crisis”, to cover damage by the agricultural, fishing and aquaculture sector, and “and the slowdown in exports” (especially for livestock). It is a partial compensation of stocks (costs of storage and seasoning of these products); (xi) May 7, New Covid-19 emergency fund of EUR 100 million to agriculture sector (interest subsidy and direct aid) [update].

Japan 05B 05B - Income support JPY
Luxembourg 05B 05B - Income support EUR 8,063,000,000 8,919,247,788 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 19 April 2020; 9 May 2020). EU https://ec.europa.eu/info/sites/info/files/2020-european-semester-stability-programme-luxembourg_fr_0.pdf (accessed 14 May 2020)

March 25: (i) EUR1.45 billion fiscal package adopted by the Parliament, including: (a) EUR400 million (0.6% of 2019 GDP) coverage of employees’ leave for family reasons, (b) EUR1 billion (1.6% GDP) paying partial-unemployment benefits, and (c) EUR50 million (0.1% percent of 2019 GDP) providing non-repayable financial aid to micro enterprises; (ii) Part of the fiscal package adopted by the Parliament: Postponing tax and social-security contribution payments for the first two quarters of the year (EUR4.5 billion); April 30, EUR2.257 billion fiscal package has been partly adopted by the Parliament, including spending measures: Key spending measures include: (a) acquiring medical equipment and infrastructure (EUR194 million, 0.3% of 2019 GDP); (b) covering employees’ leave for family reasons (EUR226 million, 0.4% of 2019 GDP) and sick leave (EUR106 million, 0.2% of 2019 GDP); (c) paying partial-unemployment benefits (EUR1 billion, 1.6% of 2019 GDP); (d) granting capital advances to cover companies’ operating costs (EUR400 million, 0.6% of 2019 GDP); and (e) providing non-repayable financial aid to micro enterprises and eligible self-employed (EUR250 million, 0.4% of 2019 GDP); (iii) Liquidity support measures include postponing tax and social-security contribution payments for the first half of the year (EUR4.55 billion). [update]

Netherlands 05B 05B - Income support EUR 49,050,000,000 54,258,849,558 OECD. http://www.oecd.org/coronavirus/en/ (accessed 9 May 2020); Bruegel. https://www.bruegel.org/publications/datasets/covid-national-dataset/#netherlands (accessed 15 April 2020); Riksoverheid. https://www.rijksoverheid.nl/actueel/nieuws/2020/05/01/110-miljoen-euro-ondersteuning-voor-sportverenigingen (accessed 11 May 2020).

(i) April 1, EUR10 billion for temporary compensation of employers’ wage costs, up to 90% of wage bill, conditional on at least 20% fall in turnover in the months March to May compared to 2019 (NOW scheme). In addition, the government will cover 30% of pension contributions and the employers' premium; (ii) EUR2 billion for compensation of self-employed and independent entrepreneurs without staff; (iii) EUR465 million in emergency support in the form of a lump sum of EUR4,000 for businesses that were forced to close doors due to government regulations (TOGS scheme); (iv) EUR175 million for Childcare Compensation for parents who continue paying for childcare during the lockdown (8 April); (v) EUR36 billion for deferral of tax collection of VAT, income, corporate, wage and turnover taxes from companies; No amount estimate: (vi) April 1, the government will cover 30% of pension contributions and the employers' premium (1 April); (vii) March 30, self-employed (without employees) hit by the corona crisis are to receive monthly 1,050 'euros over the next three months, irrespective of their savings. For married couples or couples with children a maximum of EUR 1,500 a month will apply; (viii) April 17, EUR300 million grants for the culture sector, including museums and theatres [update]; (ix) May 1, EUR110 million to support sports clubs. [update]

New Zealand 05B 05B - Income support NZD 25,100,000,000 15,180,839,482 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 14 May 2020); New Zealand Treasury. https://treasury.govt.nz/news-and-events/news/wage-subsidy-extension-announced (accessed on 15 May 2020).

April, (i) Total NZD2.4 billion (0.8% of GDP) as permanent increase in social spending to protect vulnerable people over the next 4 years; (ii) NZD13 billion (4.3% of GDP), a lumpsum 12-week wage subsidy to support employers severely affected by the impact of COVID-19. On May 14, the government announced additional funding of up to NZD3.2 billion in Budget 2020 for a targeted extension of the wage subsidy. The targeted extension provides for a further 8 weeks of payments after the program ends on June 9 [update]; (iii) NZD2.8 billion (0.9% of GDP) of permanent change in business taxes to help cashflow over the next 4 years; (iv) NZD3.1 billion as temporary tax loss carry-back scheme (1% of GDP) over the next 2 years; (v) NZD0.6 billion (0.2% of GDP) support for the aviation sector; (vi) No amount/measure: 6-month freeze on residential rent increases and increased protection of tenants for termination of tenancies.

Norway 05B 05B - Income support NOK 124,888,600,000 12,219,829,348 Ministry of Finance. https://www.regjeringen.no/en/aktuelt/economic-measures-in-norway-in-response-to-covid-192/id2695355/ (accessed 12 April 2020); Ministry of Finance. https://www.regjeringen.no/en/aktuelt/additional-financial-measures-to-mitigate-the-economic-effects-of-the-coronavirus-crisis/id2696548/ (accessed 12 April 2020).

27 March: (i) NOK30.7 billion, mitigating income loss for businesses; (ii) NOK20.8 billion, mitigating income loss for persons; (iii) NOK5.5 billion, other compensation schemes; (iv) NOK2.7 billion, aviation sector support excluding guarantee portion; (iv) Automatic stabilizers: (a) NOK37 billion reduced tax revenues (Includes increased taxes due to the extensions of the unemployment benefit scheme and new income protection schemes for self-employed and freelancers), (b) NOK18  billion, increased expenditure on unemployment benefits, (c) NOK4 billion, increased sickness allowance; 3 April: (v) Additional spending in the following areas: (a) help for students who have lost work income (NOK1 billion), (b) a temporary benefit for apprentices (NOK250 million), (c) compensation for reduced parental payment to after-school care (NOK1 billion), (d) skill development measures (NOK190 million), (e) home-based instruction (NOK 3 billion), (f) coronavirus information for immigrant groups (NOK6.6 million), (g) temporary purchase of basic rail transport services (NOK550 million), (h) deferrals for beverage taxes (NOK14 million), (i) deferral of fuel and mineral product taxes (NOK18 million), (j) exemption on natural gas taxes (NOK40 million), (k) suspension of the horse-racing tax(NOK 100 million), (l) support for temporarily laid-off employees with private pensions, and (m) support for the reindeer industry (NOK20 million).