12/11/2023 0 Comments How did the bank stay afloat bust![]() The wage cost subsidies and contributions towards fixed costs required a total of about €40 bn, while the tax office is still owed roughly €20 bn in deferred payments. The support measures, the bank said in a new report, turned out to be very successful, keeping bankruptcy and unemployment rates low, and allowing the economy to rebound quickly during periods without social distancing measures.īut they also cost the government a lot of money. The Dutch central bank said last month that while government support measures were effective in supporting hard-hit industries in the first year of the coronavirus crisis, they also reduced the incentive for businesses to adapt to change. The national statistics office CBS is due to publish its bankruptcy figures on Tuesday. The government stopped supporting firms financially at the beginning of April and is also phasing out the deferred tax payment system. ![]()
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