The layoff support appears to be by far the most expensive economic measure in the Corona crisis. SEK 95 billion is estimated to cost the state this year according to the current Minister of Finance's estimate. The support will go to companies that are in temporary economic crisis as a result of the corona pandemic, in order to avoid having to notify and dismiss staff.
But SVT's review showed that stock market giants who received advance notice of state corporate support at the same time made share dividends to the owners. After that, the Director General of Growth was called to the Finance Committee. The government also threatened with stricter legislation. The Growth Agency then reversed and stopped the opportunity for large companies to receive lay-off support if they distributed money to the shareholders. In addition, an in-depth legal analysis was promised.
It was completed today, and now the requirements are further tightened. The prohibition on dividends should also apply to group contributions, even though the money then stays in the Group and can be used in the Group's operations. This could hit the truck giant Scania, whose German owner planned to pay dividends.
"An assessment question"In today's message, Tillväxtverket writes that companies that consider themselves able to make payments of some kind "are reasonably not considered to have such serious financial difficulties that they would be eligible for support".
SVT's review also shows that more than half of the 30 most traded stock companies have flagged so that they can call an Extraordinary General Meeting this autumn and distribute the withdrawn money to the shareholders then instead.
But neither can they count on today's message. The Swedish Growth Agency now speaks that "the whole year" is taken into account in the final decision on support.
- It will be a matter of assessment on a case-by-case basis, says Tillväxtverket's Press Manager Niklas Kjellberg to SVT Nyheter.