Insider Economy Parliamentary Committee to discuss new government support package

Parliamentary Committee to discuss new government support package

The Parliamentary Committee of Finance convenes Monday via teleconference to discuss a new government package to mitigate the economic impact to the real economy, amid the coronavirus outbreak.

The new package approved last week by the Council of Ministers, features state guarantees amounting to €1.5 billion for loans to business and self-employed persons, direct grants to very small businesses and self-employed, a bill featuring tax incentives to real estate owners who provide monthly rent reductions, as well as a bill to provide 18-month credit vouchers, backed by government guarantee for prepaid vacations, which have been cancelled due to the Covid-19 outbreak.

The meeting will start on 09:00 with Finance Minister briefing the committee members on the new bills.

This will be the third version of the government guarantee scheme to be discussed with the parliamentary parties in a bid to attract the necessary majority for parliament approval. Last week Petrides pointed out that the package should be viewed comprehensively as the one bill is complementary to the other.

Speaking to CNA, Angelos Votsis, the Committee Chairman, said that a second meeting may be needed to conclude the discussion on the new government package.

“The political parties will have the opportunity to be briefed on the latest package and depending on the developments will consider whether holding a new meeting before the Plenary session the coming Friday”, he said.

(CNA)

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