Targeted measures sought for Swiss firms hit by coronavirus

The Swiss government is working on directing support to companies hit by falling demand caused by the coronavirus outbreak and will not adopt a broad stimulus programme.  “For us it is important that we don’t have some kind of helicopter money, subsidies or an economic programme that works only in the long term, not the short term,” Marie-Gabrielle Ineichen-Fleisch, director of the State Secretariat for Economic Affairs (SECO), told Swiss public radio, SRF, on Saturday.  SECO coordinates economic and labour market policy for the government.  Government subsidies paid to staff put on short working hours by their employers have been shown to be an effective economic stabiliser, she said.  The government was also looking to target support at companies such as event managers which are likely to be hit by government restrictions including a temporary ban on events which draw more than 1,000 people.  Central bank  Ineichen-Fleisch said supply chains were still functioning and …

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