France ends blanket Covid crisis aid to businesses

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French economy and finance minister Bruno Le Maire has announced an end to across-the-board financial support to businesses to help them survive the downturn caused by the coronavirus pandemic and resulting restrictions, detailing that future aid will only be made available on a case-by-case basis.

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Speaking at the opening of the summer gathering of Medef, the French bosses' union, finance and economy Minister Bruno Le Maire has warned that the government's open chequebook policy, launched to help businesses through the Covid crisis, is finished. From now on, applicants for compensation will be judged on a case-by-case basis, reports Radio France Internationale.

The minister's message to the captains of French industry, gathered at the chic Paris racecourse of Longchamp, was a simple one: the time of limitless government financial aid is over. It is time to look to the future and rebuild the economy in the wake of coronavirus.

Under the government's crisis management scheme, French businesses were given 27 billion euros in 2020 alone, to enable them to protect the jobs and salaries of hundreds of thousands of workers, and so limit the impact of the epidemic on employment.

Read more of this report from RFI.

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