COVID-19: Prince’s Government revives measures to support economy and employment, starting today

Although the fourth quarter of 2021 was promising until the emergence of the Omicron variant, the current health situation is having an adverse impact on some businesses by acting as a brake on their operations. Following extensive consultation with the business sector and the National Council, the Prince’s Government has therefore decided to revive several of the assistance and support measures that were previously implemented successfully.

The goal is to provide support to companies and organisations that have taken a heavy and lasting hit to their operations at the beginning of 2022. The events, tourism, restaurant and souvenir sales sectors have been particularly affected.

The support measures enter into force today, Thursday 20 January, and are currently expected to last until the end of February. This period will be used to assess developments in the situation and determine the most appropriate measures for the future.

CTTR

Specifically, the strengthened provisions for total temporary layoff (CTTR) are being reintroduced under exactly the same conditions that were in place until December 2021, i.e. they are available to companies in the target sectors of the economy that have experienced a 30% drop in revenue compared with the same period in 2019.

Employers’ contributions

The partial exemption from employers’ contributions is also being revived for businesses with revenue of less than €5 million which have seen a decline in revenue of at least 20% in January 2022 compared with the same period in 2020. The requirement not to lay off any staff for one year, except in cases of gross misconduct or unfitness, remains in place.

CARE

In addition, the COVID-19 Businesses Unit will email companies which received assistance from the Economic Recovery Support Commission (CARE) in 2021 to check on their current situation. To be eligible for assistance, companies will need to be able to demonstrate a 40% decline in revenue in January 2022 compared to January 2020.

The Prince’s Government continues to engage in regular dialogue and consultation with all economic and social stakeholders, with a view to continually adapting support measures in line with the circumstances faced by businesses and employees in the Principality.