The bill, which was outlined in a press conference on Wednesday and adopted by the government the same day, offers the aid to small and medium sized businesses on the following conditions:

• That the event was recognised as having a harmful economic activity on certain businesses during a given period;
• that the company experienced temporary financial difficulties;
• that there is a causal link between those difficulties and the event in question.

Among the examples of events the aid would cover the government cited acts of terrorism, eruptions of a volcano or epidemics such as coronavirus.

The government recognised that SMEs experience more liquidity difficulties than large companies as a result of events which could cause supply disruptions or large numbers of cancellations of bookings. Eligible costs under the new aid scheme are limited to the loss of income incurred. The aid takes the form of a recoverable advance.

The new law compliments existing measures for unforeseen events, which previously offered cover for short-time work aimed at maintaining employment and avoiding redundancies. 

The government outlined the legal and financial implications in a FAQ section on its website dedicated to economic questions.

Government hotline

If you suspect that you have covid-19, isolate yourself from anyone susceptible to be infected and contact the government hotline, 8002 8080. Do not go to your see your GP or the emergency room.

In case of emergency, telephone 112.

Additional information about the coronavirus and covid-19 can be found, in English, on the websites of the UK’s National Health Service, US Centers for Disease Control and Prevention and World Health Organization.