The people’s paper ISSUE NO. 1860
25 Feb - 3 March 2021
News
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€11 BILLION BOOST
SANCHEZ has announced a new €11 billion fund for tourism, hospitality and small businesses. Spain’s President Pedro Sanchez said the government “will approve an additional pack‐ age of €11 billion to continue supporting companies, SMEs and the self‐employed.” In this way, he said, “we will strengthen their solvency so that they can start the recovery in full capacity. We have the vocation to leave no one behind and al‐ ways look ahead.” The government hopes the rescue package will provide a lifeline to those employed in the tourism and hospitality sectors, and small businesses. In a speech at the Congress on Wednesday, February 24, Sanchez said that these re‐ sources will seek to “strengthen the solvency of the balance sheets,” facilitate the return of the sectors’ activity, and allow for “the necessary investments” to be made for the hiring of work‐ ers.
Sanchez highlighted the fact that, since the beginning of the pandemic, the government has committed 20 per cent of GDP resources in an exercise of pro‐ tection never seen before, which he said included funding ERTE and transfers of financial support to autonomous communities. “The payment of ERTE salaries and benefits alone amounts to
LOCAL BUSINESSES: Will welcome the most recent news.
some €40 billion of direct aid,” he said, adding that €24 billion of aid has been given to au‐ tonomous communities to rein‐ force healthcare among other things. Sanchez assured that the cre‐ ation of “quality employment” will be one of the main eligibility criteria of all the projects of the new Recovery, Transformation
and Resilience Plan, and esti‐ mates around 850,000 jobs will be created in the next three years. During this period, the Presi‐ dent said that the country will re‐ ceive around €80 billion in direct transfers, out of a total of €140 billion within the recovery pro‐ grammes agreed in the Euro‐ pean Union.