Assessment: Coronavirus support helped companies survive the pandemic but initial allocation of aid could have been improved
Business cost support granted during the coronavirus crisis increased companies’ turnover, turned them profitable and lowered the risk of debt restructuring. Due to the support for business costs, some of the loss-making companies became profitable during the coronavirus epidemic. However, the new rounds of support have slowed down a beneficial structural change of the economy. These are the conclusions of the report ‘Assessment of Support Policy during the Coronavirus Pandemic,’ published by the Research Institute of the Finnish Economy (Etla) for the Ministry for Economic Affairs and Employment on 17 May 2022. In future, more attention should be paid to the support measure deadlines, their discretionary nature and better targeting.
Commission adopts Finland’s regional and structural policy programme for 2021–2027
The European Commission has approved the EU regional and structural policy programme, Innovation and Skills in Finland 2021–2027, and Finland’s partnership agreement among the first in the whole EU. The programme promotes the vitality, employment and wellbeing of the regions. The partnership agreement describes the strategic direction and mutual coordination of different funds.
Development programme for sustainable maritime industry supports the sector’s international growth
The Ministry of Economic Affairs and Employment has launched a development programme for sustainable maritime industry. The starting point for the programme work is maintaining Finland’s maritime industry as a competitive employer in the country’s different regions. Climate objectives and digitalisation will create new demand and business opportunities as long as the sector invests heavily in competence and innovation, productivity, internationality, exports and cooperation.
Working in Finland brochure combats exploitation in 24 languages – Seasonal workers’ advisory service operates again this summer
The Working in Finland brochure, published by the Ministry of Economic Affairs and Employment, is now available in 24 languages to inform workers about their rights and where to find help in case of suspected exploitation. A multilingual advisory service for seasonal workers also combats exploitation of labour.
Government supports Commission’s proposed legislation on corporate social responsibility
The European Commission published its proposal for EU corporate social responsibility legislation on 23 February 2022. Today, the Government submitted its view on the Commission’s proposal to Parliament. The Government considers the proposal important and supports it in key respects, but also emphasises that the regulation must be clear and that companies must have realistic opportunities to comply with the proposed obligations.
