The crisis package includes, among other things, a state loan guarantee, relief in terms of employer fees and rental assistance.
The reduction in the employer's contribution is valid for four months, from 1 March. The reduction is proposed to apply to a maximum of 30 employees and to the part of the salary that does not exceed SEK 25,000. Only the old-age pension contribution is payable during the four months.
The change is estimated to cost around SEK 33 billion for the Treasury in reduced revenues.
Relief will also be introduced in respect of last year's VAT payments, at a budget cost of SEK 7 billion.
“It is a very serious financial situation that we are in, both in the world and here at home,” says Magdalena Andersson.
State loan guarantee for 70 percent of new loans
To make it easier for companies to finance themselves, a government loan guarantee is proposed. The proposal means that the state guarantees 70 per cent of new loans from the banks to companies that, due to the consequences of the new corona virus, have encountered financial difficulties, but otherwise are viable.
– We see that it is difficult to get a loan at the bank, says L's economic-political spokesperson Mats Persson.
Companies will be able to borrow a maximum of SEK 75 million and in the first few months no interest needs to be paid.
Rental assistance with up to half the rent
Assistance with the rent is proposed to particularly vulnerable companies.
– Many business owners are looking over their empty premises and wondering how they can pay the rent, says Finance Minister Per Bolund (MP).
A rental subsidy is proposed for, for example, hotels, restaurants and shops. The state will account for 50 percent of the rent reduction up to 50 percent of the fixed rent. The aid must be applied for in retrospect and apply for the period from 1 April to 30 June. SEK 5 billion is allocated for this.
There is a demand for significantly greater direct support for the companies, for example from the Confederation of Swedish Enterprise.
“Our assessment is that we use taxpayers' money much more efficiently in this way because it is the smaller companies that have the big problems,” says Finance Minister Magdalena Andersson (S).
She emphasizes that the government has a responsibility to protect taxpayers' money and to ensure that there are also resources for stimulus packages for the economy when the emergency crisis is over.
– There will also be money so we can pay child support in November and so that the nurse in Ovanåker can get her salary for Christmas, says Andersson.
SEB's chief economist: The government has shown responsiveness
The Moderates, but also the Swedish Enterprise and several economists, have suggested that companies should avoid employer contributions completely for a few months. The government has previously proposed that companies should be able to apply for deferral of fees and taxes and pay them later.
The government's measures to support small and medium-sized companies are “absolutely right” and show great responsiveness to business, says SEB chief economist Robert Bergqvist.
– These are expected proposals, says Robert Bergqvist.
He says the proposals show that the government and its partners have been very responsive when they obeyed the emergency calls from the community. In addition, these are effective measures.
– You push the right buttons, have the right focus and take in properly. When we make our forecasts, we hope that the bottom will be reached during quarter two. But there will be aftermath. It is reasonable to consider raising for a longer period. If it now turns out that the crisis is moving faster, then the possibility of restarting operations and getting companies back on track will probably be improved, says Bergqvist.
Entrepreneurs: The state-of-the-art business cut is the best
The organization Entrepreneur's CEO Günther Mårder thinks that, overall, it is a good and resolute crisis package.
– I am positive about the speed of the government's work, they have succeeded in getting this extremely fast and they should have a great deal for it. And it is good that they are now directing the light to the small companies, he says.
– The most welcomed right now is the state corporate cut, given that it will work well. The administrative apparatus that decides who should be granted these guarantees can be complicated. There they can come back and tell us practically how it will go, says Mårder.
Swedish Business: Not powerful enough
Swedish Enterprise is not as impressed with today's message.
– It is good that the government presents new measures and it is in good areas, but they are not powerful enough. We see every day that more and more companies are suffering from acute problems that threaten both the business and the job, says CEO Jan-Olof Jacke in a written comment to TT.
The organization wants to see an expanded system for short-term leave, reduced interest on deferred tax payments and a rescue allowance for companies that have lost a large part of their turnover.
– Not taking the right measures now will lead to even greater costs in the future, says Jacke.
LO: More targeted investments are needed
From the trade union world, people are generally positive about the government's message.
“We welcome the fact that the government is active and prepared to invest heavily. The crisis is deep and great resources are needed to avoid unemployment shocks, ”says Chairman Karl-Petter Thorwaldsson in a written comment.
But LO is demanding more targeted investments against those who are hit the hardest, both companies and employees who become unemployed or alert.
“Today's broad tax cuts must now be followed by targeted efforts: more generous short-term leave, secure welfare and financial support for the unemployed without protection,” says Thorwaldsson.
Trade: The A-cash must be raised
Handels also welcomes the message, but demands new rules for the A-box.
“Now the government must continue its efforts and protect those who lose their jobs, otherwise the costs will be passed on to the country's municipalities. The basic allowance from the unemployment insurance fund must be increased, and the number of hours worked to qualify for compensation must be lowered, ”says Susanna Gideonsson, the chairman in a press release.