By Le Figaro with AFP
Posted
This scheme, introduced in March 2020, was due to expire at the end of 2021. It allowed Member States to pay a total of 3 billion euros in aid.
The European Commission announced Thursday that it wanted to end in June 2022 the exceptional relaxation of state aid introduced during the Covid-19 crisis to help companies in difficulty.
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Taking note of the strong economic recovery since spring, Brussels “ sent Member States, for consultation, a draft proposal to extend the temporary state aid framework until 30 June 2022, while defining the way forward with a view to progressive elimination ”, states a press release. This exceptional regime, introduced in March 2020, was due to expire at the end of 2021. It has enabled Member States to pay a total of 3 billion euros in aid to save companies affected by the economic crisis linked to the Covid pandemic -19.
In normal times, this aid is only authorized in small quantities by Brussels in order to guarantee fair competition and not to subsidize lame ducks. ” We are finally seeing the light at the end of the tunnel, with a strong recovery of the European economy (… ). At the same time, we need to be aware of the disparities between Member States and the need to avoid + cliff-edge effects + when withdrawing public support ”, declared Competition Commissioner Margrethe Vestager, quoted in the press release.
In addition to the extension six-month period, the Commission proposed to supplement the current system by authorizing measures to support investment, to make up for the delay accumulated during the crisis, as well as measures to attract private financing to businesses, in particular SMEs. These additional measures, intended to consolidate the recovery, would remain in force beyond June 2022, even if their duration remains limited.
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Member States now have the option “ to make observations ”on the proposal, said the European executive. According to the Commission’s economic forecasts released in the summer, the EU’s GDP is expected to grow by 4.8% in 2021 and 4.5% in 2022.
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