The SURE instrument should be extended!

 

While fully supporting the implementation and use of the SURE instrument – a temporary support scheme to mitigate unemployment risks in an emergency (SURE) with the potential to provide financial assistance up to €100 billion in the form of loans from the EU – we believe that more can still be done.

HOTREC has been informed that there are only €9 billion left in the SURE instrument and that some Member States already reached the maximum of financial support they could request.

Taking into account the unprecedented crisis the hospitality sector is facing, HOTREC calls on the European Commission to increase the financing amount under the umbrella of SURE. We understand that the scheme can be deployed until 2022 and that its application can be extended by then. Given the precarious situation of thousands of companies across Europe, liquidity is key for businesses to survive and for workers to keep their jobs.

We also call on Member States to include under the umbrella of the REACT EU mechanism, the possibility of deploying short term employment schemes.

At the same time, the implementation of short-term employment schemes at national level is also very welcome (e.g. Finland, the Netherlands or Spain). These types of schemes protect jobs, help companies survive and keep competitiveness. All in all, they are a plus to help the sector recover from the COVID-19 crisis.