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    Billions reserved for NOW 3.0 subsidy to cover labour costs

    The new set of coronavirus support measures is an important part of the Netherlands national budget for 2021. Most money is reserved for the NOW 3.0, a scheme which provides employers with a subsidy to cover labour costs in the event of a loss in revenue.

    At the end of August, the government announced that employers and employees would be able to rely on government support for a longer period of time. The third set of support measures also includes the third version of the NOW scheme; a scheme created to provide employers with a subsidy to cover labour costs in the event of a loss in revenue. Contrary to the NOW 1.0 and 2.0, the NOW 3.0 has a term of not three, but nine months. These nine months have been split up into three periods of three months each: from October 2020 to December 2020 included, from January 2021 to March 2021 included, and from April 2021 to June 2021included. For each period, different rules apply.

    Government slowly phases out financial support for businesses

    In its budget for 2021, the Ministry of Social Affairs and Employment has reserved a total of €6.9 billion for the third set of support measures. Almost €5.3 billion of this total sum will be used for the NOW 3.0. Whether all this money is really needed will of course depend on the extent to which organizations apply for the NOW 3.0 scheme. Less organizations already applied for the NOW 2.0 than for the NOW 1.0. During the term of the NOW 3.0, the government will slowly phase out the financial support in an attempt to allow employers to gradually adapt to the new situation.

    €1.4 billion to special ‘social support package’

    As part of the developments and changing situation, the government has reserved an extra €1.4 billion for a ‘social support package’ with additional measures. This set of measures is intended to give financial support to fight poverty and debt and to deal with unemployment, especially amongst the younger members of the working population. The money is reserved to be used for a period from 2020 to 2024 included.

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