Corona Support Programme: Senate notes positive interim results
Over the course of the coronavirus pandemic, Hamburg has put in place a number of support initiatives for business, associations, institutions and artists, backed by programmes from central government. Almost six months after the launch of Hamburg’s corona support programme, assistance totalling around 4.5 billion euros has to date been initiated. The largest share is down to tax assistance: Advance tax payments have been reduced by an amount of 2.65 billion euros. Around 520 million euros were paid out by the end of May under Hamburg’s corona emergency aid (208 million euros of which were Hamburg state funds). A further support initiative covers the deferment of rents by Hamburg’s public companies: Around 1,000 applications totalling more than 30 million euros were made. Other building blocks are being put in place at high speed in the context of the Hamburg Economy and Growth Programme (#HKWP2020).
Corona Assistance: Stock-take and Perspectives
“The numbers clearly show how the coronavirus pandemic continues to pose challenges to economic life,” Finance Senator Andreas Dressel says. “We may not and will not ease up on our efforts, even if the scope will narrow over the years ahead. For example, we are currently working flat out on the launch of the Hamburg Stabilisation Fund, which will provide support to medium-sized enterprises in Hamburg that do not fall under the federal Economic Stabilisation Fund.” On top of that, a Hamburg Digital Bonus and reform of the import sales tax are under preparation as part of the Hamburg Economy and Growth Programme.
“We continue to see considerable room for further bridging assistance from the federal government,” Dressel continues. To date, only 2,000 applications have been made in Hamburg, with 921 approved for a total of 16.5 million euros. “It is imperative that the federal government, the states and the municipalities continue to act hand in hand, not only in combating the health impacts of the coronavirus, but also in coping with the economic and financial consequences,” Dressel has urged.
Preserving Hamburg’s Artistic and Creative Sector
Economy Senator Michael Westhagemann adds: “Small and innovative concerns and startups in particular continue to be reliant on our assistance. Especially in times of crisis, we have to focus on our creative and innovative powers. A region’s innovative potential has a major role to play in confronting the challenges of the future. Every cent invested here is well spent.”