• Covid-19.The ECB pulls out its artillery against the coronavirus: it maintains the rates but increases the purchase of assets
  • Covid-19. Employers and unions agree to streamline temporary layoffs to face health alert
  • Coronavirus. Employers and unions agree to streamline temporary layoffs to face health alert

The Government has responded to the "economic emergency" caused by the coronavirus with a "first package of measures" that, given the complexity of the situation, seems scarce, especially in the case of tourism. And the fact that the President of the Executive, Pedro Sánchez, has underlined that it is a first response already shows that more actions will be necessary.

In total, the Government will mobilize 4,225 million euros directly, but in no case are these additional funds and most of it will go to health care. Thus, 2,800 million will be distributed among the communities that can cope with the virus, and it is an advanced amount of deliveries on account. In addition, there are 1,000 million from the contingency fund for "priority" interventions designated by the Ministry of Health, and 25 million more to maintain the dining room scholarships.

The rest, just 400 million, are those that will have the economic sphere of action through an " ICO line for the tourism, transport and hospitality sector ". And the Executive will also allow airlines not to have to use a certain minimum of slots to preserve it, which according to Sánchez will be "a great relief" but still requires authorization from the European authorities.

To this must be added that the Executive will allow deferrals and installments of the tax debts of SMEs for a period of six months without any interest. It is, therefore, a moratorium on compliance with the obligations of the Tax Agency and which, according to the Government's estimates, " allows to inject 14,000 million euros of liquidity " into the system and which is, probably, the action More powerful.

Specifically, since the Decree Law on emergency measures comes into force and until May 30, the Treasury will allow companies and the self-employed to defer up to 30,000 euros in the payment of taxes for six months and with three months of grace. This postponement extends to concepts that until now were considered deferrable, such as withholding of personal income tax, VAT payable and fractional payments of corporation tax.

"The Government, to avoid possible treasury tensions for the self-employed and small and medium-sized companies, makes deferments of tax payments more flexible for a period of six months, upon request. This will allow injecting up to 14,000 million euros of liquidity," the Ministry said. of Economy, which adds this figure to the aforementioned 4,225 million and increases the amount of the "economic measures plan to mitigate the impact of Covid 19" to 18,225 million .

Approve Budgets

Sánchez also wanted to take advantage of his appearance to press the opposition, and to emphasize how important it is to approve the new General State Budgets (PGE) in a context as complex as the current one. " The economic response to this emergency would be facilitated if we could count on Budgets , which are increasingly urgent and with this crisis makes them urgent," he explained.

"They are more necessary than ever", and it will not be social "but extrasocial", he emphasized, before adding that the accounts will include new fiscal stimulus measures and, therefore, it seems likely that the increase in taxes will no longer be undertaken. so far it was planned. Or, at least, not with the same intensity.

Renfe allows you to change and cancel train tickets at no cost

Renfe will allow to change for another date or cancel free of charge, at no cost to the traveler, the train tickets that have been purchased for any of its trains and fares, including the AVLO, the new 'low cost' AVE.

The railway company will return in full the tickets purchased for Imserso trips and, in addition, will extend the current validity period of four months of the 'multi-trip bonds' by sixty days.

These initiatives are part of the package of shock measures to tackle the impact of the expansion of the coronavirus approved by the extraordinary meeting of the Council of Ministers on Thursday.

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