The government just announced a rescue package worth €1.8 billion, its aim to mitigate the inevitable direct impact of COVID -19 on society and the Maltese economy. Most of the measures listed below are aimed to support the Employer and their respective Employees.
Below find some of the salient points:
- Direct liquidity for companies.
- The government financially guarantees to companies who are expected to open up to the availability of credit and loans.
- Millions allocated to Health authorities as additional budget to fight Coronavirus.
- €350 per employee on quarantine leave to be paid by the Government (possibly aimed to cover the 14 days special leave ergo ‘quarantine leave’).
- The Government will be covering financial benefit to cover two additional months leave for parents who are to stay at home to take care of the children due to school closures.
- For Companies that had to close, Government will cover two days of work for workers.
- Self-employed will receive a benefit of two-days’ work per week.
- Government will cover two days of work for every employee, capped at €800 per month for Companies that saw their production drop by 25%.
- Individuals who ended up without work as from the 9 March 2020 will receive a special unemployment benefit.
- Tenants renting property and who unfortunately lose their employment who do not qualify for rental subsidy, will now benefit from such rental subsidy scheme.
- Monthly Financial benefit for people with different abilities who are unable to work from home or need to stop working due to health concerns.
Notice regards to foreign workers (Third Country Nationals) – A company/employer that makes a Foreign worker redundant cannot apply for a work permit for a Third Country National subsequently. With immediate effect Identity Malta Agency will not be accepting new Third Country National single permit applications and Jobs Plus will be assisting all Maltese, EU nationals and Third Country Nationals who end up unemployed to find alternative engagement.
IMPORTANT NOTE – The above is a mere synopses of the measures announced and does not purport to give legal, financial or tax advice, or any other advice of whatever nature. Hence it is always your responsibility to seek legal advice before taking, or not taking, any action.