SH has paid out 1.4 billion euros in bridging aid
Schleswig-Holstein has paid out 1.4 billion euros in coronavirus bridging aid. In addition, there is more than 440 million euros in monthly aid, a spokeswoman for Investitionsbank Schleswig-Holstein told the German Press Agency. So far, 23 percent of the final settlements for the bridging and monthly aid have been received, and 26,000 are expected. On this basis, according to the information, almost a third of the claims are expected to be reclaimed - the order of magnitude is expected to be in the range of 2,000 to 7,000 euros.
According to figures from the Federal Ministry of Economics, around 13.1 billion euros in emergency aid and 63.3 billion euros for programs such as the November, December and restart aid were paid out across Germany.
The coronavirus bridging aid was paid out unbureaucratically to companies whose existence was threatened by a sharp drop in turnover. However, this disbursement was linked to a final account - the actual decline in turnover and eligible fixed costs were compared with the forecast. Reclaims can be made, for example, if the actual decline in turnover was lower than expected when the application was submitted. The deadline for the final accounts was October 31. However, according to the Federal Ministry of Economics, this deadline can be extended until January 31 without any bureaucracy and, upon request, until March 31 at the latest.
The reasons for the repayments vary, as the Investment Bank spokesperson went on to say. These include adjustments to turnover or fixed cost items that were originally estimated or a lack of eligibility to apply, for example due to a lower loss of turnover than originally estimated. Reasons for repayments also include double funding, for example through restart aid or emergency aid and deviating information from submitted evidence.
The company in Schleswig-Holstein might need to refund a portion of the bridging aid, with estimates suggesting between 2,000 to 7,000 euros per claim, due to an unexpectedly lower decrease in turnover compared to the forecast made during the application process. This economic policy decision to recoup payments is part of the overall finances managed by the Investmentsbank Schleswig-Holstein in response to the Corona crisis.
Source: www.dpa.com
