At least 65,000 job losses avoided through corona support packages: CPB

the CPB said
At least 65,000 people were saved from losing their jobs by support measures for businesses during the lockdown, economic planning agency CPB said on Tuesday.

Up to 180,000 jobs could have been lost if businesses had not received help to pay wages and costs while they were unable to trade, while the economy would have shrunk by a further 0.6%, according to CPB estimates.

However, the CPB said that the benefits of protecting businesses from the initial shock declined as the pandemic wore on and the economy recovered, while the costs increased.

CPB director Pieter Hasekamp said in April this year that the system should be scrapped as soon as possible. ‘The current support plan is stalling parts of the economy at the point where they were at the start of 2020 and is thereby blocking normal economic dynamics: businesses ending and new businesses starting up, with people finding new jobs elsewhere.’

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