"Expanding financing to businesses is key to help them overcome the cash flow pressures due to the COVID-19 disruption, acting as one of the backbones in this year's bailout policies," said Yang Chengzhang, a national political adviser and chief economist with Shenwan Hongyuan Securities. … [Read more...] about Reforms buoy small firms
Small business size standard
In addition, the Government cautiously recommended the NA consider and adopt the guideline on several specific mechanisms and policies to revive the economy in the new situation. Accordingly, the Government asked for the NA’s permission to proactively adjust the 2020 public investment plans among ministries, sectors and localities within the expenditure estimate on development investment; convert the investment mode for important transport projects from that of a public-private partnership to the use of the state budget; exempt and reduce a number of tax obligations concerning the areas and subjects suffering heavy losses due to COVID-19; postpone the increase of basic salary for civil servants, public employees and the armed forces and pensions from July 1, 2020; and consider launching new economic stimulus packages if the pandemic continues to be prolonged on a global scale. … [Read more...] about BUSINESS NEWS HEADLINES MAY 30
But New Zealand manufacturers were not fighting on a level playing field because of "sub-standard" imports of manufactured products, including for the construction industry, which Dieter Adam, chief executive of the New Zealand Manufacturers' Network, said were "imported without any controls". … [Read more...] about Manufacturers plea for Government to start enforcing standards
In the response to the pandemic, this month Washington D.C.-based Music Policy Forum and Sound Music Cities in Austin came together to form a new initiative called Music Cities Together, which launched a 10-city pilot program called Reopen Every Venue Safely. Made up of Los Angeles, Seattle, Cleveland, Albuquerque, Portland, Austin, Chicago, New Orleans, Louisville and Charlotte, REVS is helping to connect music venues with their local health departments to foster reliable communication and collect data on best practices moving forward with a geographically diverse set of cities. … [Read more...] about Music Venues Across the Country Can Reopen, But Is It Worth It?
Even if you lift lockdown, it is not going to revive economic activity immediately because consumption will not revive, so demand will not. Investment will not revive, therefore demand will not revive. Only the government is spending, but it is going to lose massive tax revenue. My estimate is that the economy will not recover to January 2020 levels for several years because we are into a deep depression. It is not going to be a V-shaped recovery, it is going to be a shallow U-shaped recovery. But suppose very optimistically we go back to January 2020 in a year, then the average rate growth from (-)75% to 0% means we will have a (-)37.5% rate of growth of the economy. If the rate of growth is (-)37.5%, Tax to GDP ratio will become half of what it was earlier. It is easy to see why. GST collections largely come from non-essential goods and sin goods, those in 43% bracket, 28% and 18% brackets. Essentials are in zero per cent or five per cent brackets. … [Read more...] about Can India’s workforce have a safe return to business?