General national economic measures
*small business relief or other financial support,
*interest free crisis loans,
*income support for employees,
*income support for freelance workers,
*business rates payment holiday,
*employer social security payment holiday,
*tax returns and or VAT returns suspended/delayed
-Fiscal package (€7,5bn):
€1,34bn to provide an income to self-employed workers who lost their revenue
€5,36bn to provide compensation to businesses that lost their revenue
€510m to the wage costs of worker who are partially unemployed due to the crisis
€27 million to extend the sickness and unemployment benefits to a larger group of people by lengthening the period of rights to these support schemes
€23m to reimburse businesses the sickness benefits they have to pay to workers
€13m to create a pool for initiatives to support large-scale redundancies of work
€13m in compensation for businesses which were affected by the cancelation of large events
-Liquidity and guarantee measures (€8,8bn)
Around €8bn of extra credit available through an increase in the guarantees for small and medium-sized enterprises and large companies
€170m of supplementary credit through for liquidity guarantees for medium and small export firms
-Under a three-month aid period that will last until June 9, if companies promise not to cut staff, the state offers to pay 75% of employees’ salaries at a maximum of 23,000 Danish crowns (around €3,000) per month, while the companies pay the remaining 25%.
-Overall, €22 worth of deferrals were announced, including a 30-day VAT deferral (more on this below) and a four month delay on labour contributions and labour taxes.
-Three tax measures were announced to boost business liquidity (more info here):
Large companies will have 30 additional days to pay VAT.
All companies will be granted four additional months to pay their labor contributions originally due through the end of June.
The government is also lifting the ceiling on businesses’ tax accounts so that corporations won’t have to pay negative interest rates when placing cash in the bank. That limit is rising from the current level of DKK 200,000 to DKK 10 million (around €1,34m) until the end of November 2020.
-Government pays up to 90% of wage for 3 months for workers who are sent home, covers income for self-employed, helps to cover fixed costs.
-Easier access to reduced work time support
-For businesses forced by law to close down, all expenditures including rent will be fully covered by the State.
National measures specific to the music sector or to culture in general
The music sector can benefit from the above-mentioned general measures. A compensation scheme is in place both for concerts that have been cancelled and postponed.
Denmark, started to ease restrictions in mid-April and further at the end of last month by easing border restrictions. Cinemas, theatres, museums and art galleries started opening on 21st May. Phase 3 should start on 8th June and phase 4, in early August with clubs reopening.
Measures taken by local collecting society organisations
Koda has decreased live concert streaming prices (see here).
Other music funds available
A few private funds have created emergency programmes. See for example:
Support from online services
No specific support for Denmark so far. For other initiatives by online services, click here.
Support from national radio and other media
Social media and other campaigns to promote music during the crisis
Local programmes supported by EU funds covering music
None so far.
Business and other expected losses
With the entire festival summer getting cancelled as of yesterday, the fear is that many of those won't come back in 2021 despite being eligible for some of the support programmes. The same goes for booking agencies. While labels are definitely loosing out on a lot right now, it is not yet to the level where their existence all-together is threatened.
For more info:
DUP - Danske Uafhængige Pladeselskaber - https://dup.nu/da/kontakt