In light of the COVID-19 pandemic, the Swedish and British government have issued a set of policy measures to support businesses

The virus outbreak has had a serious impact on economic growth, with consequences both for the British and Swedish economy. The outbreak has caused an unprecedented situation of a simultaneous supply and demand shock with disruptions in global supply chains and lower household spending. The global economy is expected to enter a recession with negative GDP growth in 2020. The British and Swedish government has undertaken comprehensive fiscal policy measures and cut interests rate in order to support businesses.

The Swedish Government’s work in response to the virus COVID-19:

Medical certificate requirement during sick pay period to be suspended

Sickness benefit qualifying day temporarily discontinued

Crisis package for jobs and transition

Crisis package for small enterprises in Sweden

Increased loan facilities and credit guarantees for Swedish businesses

1 billion for culture and sport

Credit guarantees for airlines

Crisis packages for Swedish businesses and jobs

Municipalities and regions to receive compensation

Sick pay standard deduction to be discontinued

Additional funding for relevant government agencies

The appropriation for disease carrier’s allowance to be increased

Central government to assume sick pay responsibility for two months

Liquidity reinforcement via tax accounts proposed

A new system for short-term layoffs to be introduced

The British government’s support for businesses through this period of disruption caused by COVID-19:

a Coronavirus Job Retention Scheme

deferring VAT and Self-Assessment payments

a Self-employment Income Support Scheme

a Statutory Sick Pay relief package for small and medium sized businesses (SMEs)

a 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England

small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief

grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000

the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank

a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans

the HMRC Time To Pay Scheme

For more information please visit:

Very serious situation for the global economy and the Swedish economy – Swedish Ministry of Finance

Pennnigpolitiskt Protokoll – Swedish Riksbank

Economic measures in response to COVID-19 – Swedish Ministry of Finance

COVID-19: support for businesses, gov.uk

HM Government Business Support