HDE, the German retail federation, suggested so-called ”Corona checks” of €500 per person in order to boost local purchasing power and the domestic economy. According to HDE, €500 per inhabitant would lead to a surge in demand of up to €40 billion and would have a ripple effect on the economy.
It suggests that employees receive the money via their pay slip, tax offices would then reimburse employers. For pensioners, HDE proposes payment through the pension fund, for unemployed through their local employment offices. For freelancers, self-employed and other entrepreneurs, the government could use an application and payment procedure similar to the one already used to provide them emergency financial assistance during the coronavirus crisis.