Page 4 - G20 Newsletter_Vol16

South Korea Brazil
The South Korean government expanded The Brazilian government announced
emergency financial assistance for small a $ 150 billion economic stimulus plan
and micro businesses and the self- on March 26th to weather the impact of the epidemic on the
employed from 100 trillion won ($ 80 billion) to 135 trillion ($ Brazilian economy. This includes an $ 8 billion bailout plan
109 billion) on April 22nd. specifically for the self-employed in Brazil. The self-employed
who are struggling to survive can apply for cash grants of $
The government reserves an additional 10 trillion won ($ 8 billion) 116 per month for three consecutive months.
to provide financial subsidies of 500,000 won ($ 400) per month
for those self-employed who cannot work normally due to the Argentina
epidemic or have lower incomes for three consecutive months.
The Argentine government launched
a $ 580 million plan on March 31st
Other countries to help small and micro enterprises
and the self-employed, hoping to minimize the impact
of Covid-19 on low-income families. Families whose
Australia only depend on the income of the self-employed can
The Australian government temporarily receive a subsidy of 10,000 pesos ($ 157) provided by the
extended the Jobseeker Programme government in April.
from March due to the epidemic situation which provides
unemployment protection for the self-employed who could
not work due to the epidemic situation under. The government Summary
introduced Jobseeker ’s Benefit, which provides $ 550 in
assistance every two weeks for the self-employed who had In some countries with well-developed social welfare systems,
to stop their works. The self-employed individual eligible for the protection of flexible-employed during the epidemic has
this subsidy must meet the following requirements: aged 18- been included as a part of its system. For example, France has
66 years, unable to continue the self-employment (excluding included the self-employed in its social security system; the
seasonal suspension), currently have no other job but have United States has also extend its unemployment insurance
the work capability, and there are no arrears of social security for flexible-employed; The “Self-Employment Income Support
contributions before. To allow the fast access to the benefits, Plan” proposed by the UK establishes a preliminary template,
the government canceled the property verification and the which may form a social security system for the self-employed
one-week waiting period during the epidemic. in the future.
On April 8th, the Australian Parliament passed the New The gradual expansion of social security and welfare policies
Jobkeeper Payment, a 130 billion cash subsidy scheme, to flexible-employed not only helps them to weather the impact
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mainly aimed at the income damage caused by the epidemic of the epidemic but also relieves the employment pressure
(compared with the same period last year, monthly income generated by the pandemic. At the same time, it is a concrete
decreased by more than 30%) of small businesses and the manifestation of the continuous updating and improving of
self-employed, eligible people can receive subsidy of $ 1,500 the social security system to adapt to the changing forms of
every two weeks and can enjoy up to 6 months. employment.

Chief Editor: Gao Jian
Editor: Su Qing Su Yang
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