Finance Minister: A new grant for the self-employed who had sufferedfrom the crisis

Finance Minister Israel Katz posted a Facebook post this morning, in which he stated that he had launched a new grant for the self-employed who had suffered a prolonged injury from the crisis. According to the publication, businesses that were damaged by an average of at least 25% during the corona period, between March and the end of December, will be entitled to a special grant due to "prolonged damage". Businesses with an annual turnover of up to NIS 300,000 will receive grants of NIS 6,000, NIS 8,000 or NIS 10,000 - depending on the business turnover.
Businesses with an annual turnover higher than NIS 300,000 to NIS 400 million will receive a grant amounting to 50% of the average grant the business received during 2020 up to a ceiling of NIS 50,000. Katz notes that the special grant, due to prolonged injury, will be given as closely as possible to the payment of November-December grants in late January to early February.
The move requires legislation, and according to the minister's office, the plan was formulated with the relevant bodies in the Ministry of Finance and will be enacted soon, the minister's office was not informed of the cost of the plan or its budgetary effects.
Additional benefits announced by the Minister in the post are: reduction from January onwards of the eligibility threshold for fixed expenses grants for the injury of 25% of turnover, instead of the 40% currently set in the enacted aid package, and upgrading the state-guaranteed business loan program. NIS 40 billion has been allocated for this plan, but so far only NIS 23 billion has been used. Katz's proposal joins other proposals for the self-employed, including legislation by coalition chairman MK Miki Zohar, which will establish an automatic safety net for the self-employed in the event of extremism.