Governments could have used another, very simple and effective method during the COVID crisis

OECD governments and central banks have implemented massive support for the economy during the COVID crisis in the form of massive fiscal deficits and full monetisation of these deficits by central banks. But a long period of economic weakness is now forecast under the effect of lower profits and higher corporate debt and, resulting in rising unemployment and bankruptcies. Instead of implementing highly expansionary fiscal and monetary policies, governments could have used a very simple method: giving companies income equal to the loss of revenue due to COVID on the condition that they maintain all planned spending (wages, rents, debt interest payments, investments, etc.)? The only trace of the crisis would then have been the monetary expansion due to the fiscal deficit monetisation - without a deterioration in companies’ financial situation or the resulting loss of potential growth. The cost for public finances would not have been much greater than that which will end up eventuating given the deterioration in companies’ financial situation, and the fiscal deficits would have been monetised .