The SME Chamber this morning insisted for further Government support, particularly through a scheme which addresses the burden of commercial rental payments.
In a statement, the Chamber noted how other EU countries have recognised the importance of addressing the current problem with commercial rents. “These countries have understood that re-opening businesses as part of the relaxation of measures cannot happen without reducing the burden of rental payments because business will be very slow for the time being.”
The rent subsidy scheme being proposed by the Chamber is based on the principle of burden sharing. The scheme we have proposed is very similar to other schemes implemented by other member states and ensures that rents adapt to current market realities while also adopting a system of burden sharing between the landlord, the government and the tenant. Such a scheme can be implemented, as non-repayable grants, under the recent state-aid rule possibilities.
The statement adds that rent is one major concern and other areas also require intervention. “EU state aid grants can also be used to help sectors that have been left out of the wage supplement, help businesses with the necessary investments to become compliant with new health regulations, help to cover utility bills, and all other running costs that businesses will take years to recuperate. These, together with positive economic campaigns and economic stimuli will help preserve our economy and restart much earlier with less harm.”
