European Commission Approves Second Fixed Cost Subsidy

More+Work & Careers ♦ Published: November 23, 2020; 21:20 ♦ (Vindobona)

The European Commission has approved Austria's request to grant further subsidies to companies particularly impacted by the ongoing pandemic. The so-called Fixed Cost Subsidy II could cover up to 70 percent of the uncovered fixed costs and up to EUR 3 million.

Margrethe Vestager, EU Commissioner for Competition, supports the Austrian government in their efforts to relieve companies of uncovered fixed costs during the pandemic. / Picture: © Wikimedia Commons / EU2016 NL from The Netherlands / CC BY 2.0 (

The European Commission gave the green light for the Fixed Cost Subsidy II, with which Austria can grant companies a subsidy of up to EUR 3 million to cover their fixed costs in view of the Covid-19 crisis.

The approval was given on the basis of the temporary EU aid framework, which was set up in March and extended for the fourth time on October 13. …