Business aid: Bruno Le Maire announces the end of the solidarity fund on September 30 and details the new system

The Minister of the Economy presented new aid targeted at the sectors most affected by the crisis: tourism, catering, cinemas …

The end of “whatever the cost”Means the disappearance of the solidarity fund. This Monday, the Minister of the Economy Bruno Le Maire received the representatives of the sectors concerned by the health pass. Objective: to act on the overhaul of the financial aid system which has supported businesses throughout the crisis. Taking note of the improvement in the French economic situation, with a notable upturn in consumption in August (+ 12% in spending by bank card last week, in particular), the government has confirmed its plan for declining state aid .

The Minister of the Economy has thus announced five measures, the first being the disappearance of the solidarity fund from September 30, except for the Overseas where activity restrictions continue. “It won’t be a cleaver“, However, argued the minister. The solidarity fund, which has cost the state around 35 billion euros since the start of the crisis, will in fact be replaced by aid to cover fixed costs.

This aid, already offered to companies which achieved more than one million euros in turnover per year, will thus be open to all companies in the sectors most affected by the crisis, without a turnover threshold. These are tourism, catering, cinemas or even theaters and museums. These companies are grouped under the S1 and S1 bis nomenclature. The aid will be calculated by realizing the difference between the amount of the fixed charges and the income of the business. The State will cover 90% of this difference for companies with less than 50 employees, and 70% of this amount for those with more than 50 employees. The only condition: the company must achieve at least 15% of its turnover. The government wants to avoid the windfall effects of businesses that would be tempted to close in order to receive aid.

SEE AS ​​WELL – Bruno Le Maire: “The health pass has no impact on the country’s economic activity”

Bruno Le Maire warns, however: where the solidarity fund was automatically allocated, the examination of an application file for assistance with fixed costs requires “three hours of examination per company“. In other words, “where compensation took a few days with the solidarity fund, it could take a few weeksWith this new device.

Specific aid plans to be defined

Accompanied by the Minister of Labor Elisabeth Borne, the Minister Delegate in charge of SMEs Alain Griset and the Secretary of State for Tourism Jean-Baptiste Lemoyne, Bruno Le Maire made an appointment with the social partners on November 30 to reassess the aids device. In the meantime, the government will work on specific action plans for three sectors particularly affected by the health crisis: travel agencies, events, and the mountains, which “need visibility“, Underlined Bruno Le Maire. At 2:30 p.m., the world of culture, including representatives of cinema and performing arts, will then be received separately by ministers Bruno Le Maire, Alain Griset and their colleague in charge of culture, Roselyne Bachelot. The Minister had indeed announced this Monday morning a tailor-made aid for the sector as well as the maintenance of “Certain cross-cutting measures” business assistance.

A final question remains unanswered: the future of State Guaranteed Loans (PGE), which was not on the menu for Monday’s meeting but which should be the subject of a future meeting, in the presence of the French Banking Federation. Since the start of the health crisis, state aid has represented a total of 240 billion euros. “80 billion euros in subsidies“, In the form of partial unemployment, exemptions from charges, and solidarity funds and”160 billion euros in loans“, According to figures announced by Bruno Le Maire.


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