So far, five companies have received almost half of Norway’s new corona compensation funding

Scandic hotelPhoto: Geir Olsen / NTB

Around 2,800 companies have so far received almost NOK 900 million in corona support. Five of them have received almost half of the funding.

The companies Oslo Plaza, Scandic, Hurtigruten, the Color Line group, and the seismic company PGS have received NOK 402 million, corresponding to 46% of the new compensation scheme’s allocations, according to Norwegian Broadcasting (NRK).

In total, the state has distributed almost NOK 900 million to around 2,800 companies. Allocations from the old scheme are not included.

The Socialist Left Party (SV) is now advocating for adjustments in the scheme so that the money is channeled to a greater extent to the companies that need it most. 

SV’s proposal

The party also wants to set the maximum limit for monthly payments at NOK 10 million. Government loans are more appropriate for bigger payouts, the party believes.

“Instead of spending money on companies that will do well throughout the crisis, we want to organize the system so that it saves the small and medium-sized companies,” SV’s Torgeir Knag Fylkesnes noted.

In order to receive subsidies to cover fixed and unavoidable costs, companies must, among other things, report a turnover drop of 30% that is mainly due to the corona pandemic. 

The larger the drop in turnover, the higher the payments.

The compensation scheme lasts until February, but the government has announced that it will be extended.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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