Balthazar Seydoux, chairman of the National Council’s finance committee, told reporters on Monday that the elected body is determined to continue to help local businesses as the local economy comes out of coronavirus lockdown. “We are at a turning point when it comes to reviving the economy. There are two approaches: either continue or stop aid. Clearly the National Council is for it to continue. The Government should not hesitate.”

Obviously some sectors are starting up again, while others will continue to suffer, he said. Responding to a question, Mr Seydoux gave the example a taxi driver, who without sufficient fares would be unable to cover his costs.

“In Monaco we can take care of the activities that really need it. And even on a case by case basis. Our size and the structure of our economic and social model allow us to do so.”

However, we need to be careful and it is not a question of distributing money at any cost on the pretext of the crisis and we are as always very attentive and concerned with the good use of the money of the State, he said.

Balthazar Seydoux (right) at Monday’s press conference. National Council