Putin declared support for the business rested in the minimum wage

the Government decided to give money to people, but not all, and quite a bit. Employees in small and medium-sized businesses that have lost income due to coronavirus crisis will be able in April-may to receive from the state one at the Federal minimum wage, ie 12,1 thousand RUB In Europe payments business produced, based on average salaries, but compensation ranged from 75% to 100% of salary.

Another of the measures to support citizens and businesses, which Vladimir Putin announced at a meeting with members of the government, was no surprise. The new Cabinet, it seems, has not yet managed to establish control over the information leakage, and therefore of subsidies on wages and on state guarantees for loans were known in advance – the President only clarified details.

the Most important decision, which has long asked for entrepreneurs – direct financial aid from the state. It will be able to claim small and medium sized companies in the affected industries that are not conducted firing of personnel. According to Putin, those who appeal for support must keep not less than 90% of the staff headcount, available 1 April. “If this requirement is actually met, the financial assistance from the state for April will be credited to the account of the organization since may 18. And the funds may come in June”, – said the GDP.

Why only in the second half of may – is understandable. Authorities want to wait for the statements not to give money to someone who really is not much need.

the Second bad point is the size of the subsidies. The amount of support, Putin said, will be calculated based on the total number of employees of the company, based on the amount 12130 rubles per employee per month. In other words – this is one of the minimum wage.

In this sense, the Russian authorities were much less generous than their European and overseas counterparts, which depend for compensation on the basis of the average salary. For example, the government of Canada has allocated $ 52 billion: Each employee is listed there is $607 a week. In the UK, the grants cover 80% of salary maximum payout is 2.5 thousand pounds is slightly above average earnings in the country.

In Russia the average wage, according to Rosstat, is 43 thousand rubles. Thus, the declared amount of compensation does not even reach 30% of this amount. Not to mention Moscow, where the residents, as before the crisis, claimed the authorities receive an average of 70 thousand.

Vladimir Putin acknowledged that the previously adopted measures of support, in particular, the program interest-free loans for the payment of wages, yet does not work effectively: “to Get a loan difficult, banks are reluctant to meet the borrowers”. Therefore, the state, he said, will provide government guarantees 75% of the volume of such loans. This will reduce the risks for commercial banks and increase available��you credit.

Now the program will be available not only for small businesses but also for medium and large enterprises in the affected sectors of the economy. “That company didn’t fire people and not hoarded salary debts to their employees,” explained GDP. However, in this case we are talking about the same minimum wage.

to Obtain an interest-free loan for payment of staff salaries on the basis of a larger amount, employers will not be able. If the goal is to support the demand, it is unlikely to be achieved. Life on the minimum wage is a subsistence survival when the money is spent only on the most necessary and sorely lacking.

Putin also said that the affected industries classified as trade goods, and in the list of strategic enterprises, which developed a program of support for more than thousands of items. However, the final list needs to be expanded on “the basis of clear and objective criteria”. “It must be enterprise crucial to the entire national economy”, – said Putin. (Recall that earlier in the list of strategic tried to make the bookmaker, which caused a scandal).

For such enterprises, it is proposed to introduce a new loan product – soft loans for working capital. Rate on such loans will be subsidized by the state in the size of the key rate of the Central Bank. “That is the real cost of the loan will be 6% below market rates. In addition 50% of the loan will be guaranteed by the Finance Ministry, which will also serve as an incentive for banks,” – said the President.

the Business, which was known in advance the plans of the government, treated them cool, considering the amount of support is meager and inconsistent with the real situation. In particular, entrepreneurs do not saw the new package no reduction in taxes or complete tax holidays, although this is what was discussed at the March meeting of the President with representatives of small and medium business.

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