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France increases support for covid-hit wine sector

Wine

04/06/2020

According to The Drinks Business

The new measures, announced last week, are in addition to the aid scheme unveiled on 11 May. The government has already granted very small businesses and SMEs exemption from social security contributions, while it has also put €140m towards crisis distillation.

Wine businesses may also apply for the so-called solidarity fund, a state-guaranteed loan, tax and social payment deferrals and activité partielle, France’s version of the Job Retention Scheme.

More than 85,000 business – including vineyards, cooperatives, wineries, and merchants – are said to have been affected by the crisis in France.

The new measures promise an additional €30m for the French wine industry, including €15m towards the launch of a private storage aid scheme for 2mhl of surplus wine, an alternative to distilling.

The lack of an alternative to distillation had previously been criticised by French wine producers, particularly in Champagne and the Loire.

Read more at source: The Drinks Business

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