Denmark announces Corona relief
In order to revive the economy after the Corona crisis, Danish citizens will be paid more than 9 billion dollars in cash. That is about 1,570 dollars per person for the entire population. Denmark had already caused a stir earlier with a Corona aid. The government refuses to pay Corona grants to companies that evade taxes.
Danish Finance Minister Nicolai Wammen announced a new relief package for the ailing economy. The citizens are to receive cash payments totaling more than 9 billion dollars. Denmark has slightly over 5.8 million inhabitants. Converted to the size of the population, each Dane receives about 1,570 dollars.
The aid payment should stimulate consumption and create new jobs as the economy is suffering from the Corona lockdown. “The Danes can be confident that the money is coming. It is too early to say how many jobs it will provide, but it is an important contribution to getting started in Denmark again”, says Finance Minister Wammen.
The payout comes from a holiday allowance, which was originally intended to be paid out as an additional pension in retirement. According to the government, the Dans will receive their cash donation before October.
No state aid for tax evaders
In addition to this payment, the government announced support for large companies totalling 1.5 billion dollars. Denmark had previously set up a Corona aid for companies and caused an excitement. The social democratic government had stated that companies which are registered in tax havens, pay out dividends to their investors, and buy back their own shares will not receive aid. Through these measures, Denmark wants to exclude tax evaders from receiving aid.