Sectors Entitled To Spanish Government’s Direct Aid Announced

THE SECTORS entitled to the Spanish Government’s €11billion direct aid have been announced

The Spanish government yesterday gave the green light to the much-anticipated €11billion financial aid package designed to support the industries most affected by the coronavirus pandemic and the full details have been published in the BOE on Saturday, March 13. Under the new decree, €7billion will be provided in direct aid. €2billion will go directly to the Canary Islands and the Balearic Islands as these regions depend heavily on tourism and are deemed to be the worst affected by the pandemic; the remaining €5billion will be shared out amongst the autonomous communities.

The fund is to be distributed between SMEs and the self-employed, but sadly falls short of the compensation being doled out throughout much of the rest of Europe. Each community will be permitted to distribute non-refundable grants of between €3,000 and €200,000 to freelancers and companies that have lost at least 30 per cent of their income in 2020 compared to the turnover of 2019.

Autonomous communities should receive their portion of the aid within 40 days, and will then have until December 31 of this year to distribute it appropriately; any money which has not been allocated by that point will have to be returned to the Ministry of Finance.

The BOE lists a total of 95 sectors that can avail of the grants, with the tourism and hospitality industries being obvious recipients. However, the decree has already received sharp criticism, most notably for leaving hairdressers and beauty salons off the list.

Publicado el RDL de ayudas directas aprobadas por el Gobierno ayer
Hay olvidos injustificados sectores de autónomos y empresas q se han visto muy afectados por restricciones y limitaciones de actividad,entre otros,peluquerías y centros de estética
Vamos a pelear por su inclusión pic.twitter.com/hiBjatMeK7

— Lorenzo Amor (@lorenzoamor_ata) March 13, 2021

Full details of the aid available, as well as a comprehensive list of the sectors entitled to the grants, are available on the official website, here.

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