Economic bailouts to fight pandemic ------------------------------------------- 1. Canada: C$107bn (US$75bn) Layoffs: C$2,000/month for next four months 7. France, Italy, Spain: Call for joint coronabonds – eurozone debt to finance fight against coronavirus – opposed by Germany and Netherlands China: 70% of workforce is back to work 1 2 4 3 5 6 7 8 9 10 11 12 ------------------------------------------- 2. U.S.: $2 trillion. $500bn for hard-hit businesses, $25bn grants for airlines. Layoffs: $1,200* per person, plus $500/child – $500bn total ------------------------------------------- 3. Norway: 100bn NOK ($9.4bn) of guarantees for companies. Layoffs: 100% of salaries for 20 days or 80% for self-employed ------------------------------------------- 4. UK: £330bn ($387bn) loans and tax breaks for companies plus mortgage relief for homeowners. Layoffs: 80% of salaries up to £2,500 ($2,930)/month ------------------------------------------- 5. Germany: €750bn ($810bn) stability fund. Layoffs: €50bn ($55bn) to protect small businesses and self-employed ------------------------------------------- 6. Netherlands: 90% of wages for companies hit hard by pandemic ------------------------------------------- 8. Japan: ¥30 trillion ($270bn) planned to offset impact of outbreak. Layoffs: package could include cash payouts and subsidisation of travel expenses ------------------------------------------- 9. South Korea: ₩50 trillion ($40.9bn) in emergency funding for small businesses ------------------------------------------- 10. Australia: A$189bn ($109bn) – equivalent to 10% of economy. Layoffs: Workers and sole traders to be allowed to withdraw up to $10,000 tax-free from retirement superannuation to pay rent, meet mortgage repayments and buy food ------------------------------------------- 11. New Zealand: NZ$12.1bn ($7.1bn) spending package – equivalent to 4% of GDP – to support businesses. Layoffs: Covers wages for people who are required to self-isolate ------------------------------------------- Sources: Forbes, New York Times, Reuters *Earnings up to $75,000 © GRAPHIC NEWS