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Japan plans ¥360 bil domestic relief package as oil prices surge

15 Comments

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15 Comments
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Why don't they just cut the steep taxes they impose on the retail prices?

15 ( +18 / -3 )

Japan plans to help residents

How ? By heaping subsidies from tax payers on oil companies and distributors and urging them to keep prices stable.

As has been said, why not cut gas taxes or give a subsidy to commuters?

15 ( +16 / -1 )

The retail price will remain the same, the wholesalers will lie to us and say in reality the price is much higher but Kishida's subsidies are helping all the while they are banking the money and we will still be left paying more at the pump. Truth be told, with the way Putin is going and his constant threats to use his nuclear arsenal, it might not matter what the price of oil or gas is very soon. Very troubling!

4 ( +6 / -2 )

Well, it is "just" 3B USD. Don't expect it to make miracles for the common folk. It is going straight in the pockets of the LDP oligarchs.

Japan and countries in the EU could have massively reduced their reliance on oil from barbaric dictatorships by boosting their nuclear power capacity instead of betting on longer-term projects like solar and wind. But, the anti-nuclear lobby was very successful in making them succumb to Russia and the Saudis.

-1 ( +3 / -4 )

And where is the price of wheat headed; to the moon.

5 ( +5 / -0 )

Put oil sanction on China for supporting deluded Putin, problem solved.

China imports 44% of global volumes...

-4 ( +1 / -5 )

No details on how this money will be used. There won’t be any left by the time the cronies and large companies get their cut. Naoki Average won’t see any of it.

3 ( +5 / -2 )

It is typical "X BILLON RELIEF PACKAGE"

However, there are no details on who and how will get money.

Probably this will land in the big firms' pockets or friends of friends, and at the end of the day, we will have to pay more for gas&electricity anyway.

6 ( +6 / -0 )

same story again,taxpayers money will "travel" to "right pockets" so dont expect any cheaper petrol anytime soon...

4 ( +4 / -0 )

How ? By heaping subsidies from tax payers on oil companies and distributors and urging them to keep prices stable.

Sure - how else to guarantee that the oil companies get the bulk of the money and average Taro gets just a few crumbs?

As has been said, why not cut gas taxes or give a subsidy to commuters?

Too straightforward and logical. J-Inc needs its cut. TIJ.

5 ( +5 / -0 )

Don't worry, Vietnam subsidizes Japan's oil needs.

https://www.nippon.com/en/news/reu20220221KBN2KQ0PQ/

-1 ( +0 / -1 )

Many complain the gov is heaping more burden on the tax payer. The scary thing is: it isn't. If Japan were actually in any sense fiscally responsible (and saw debt as a moral issue as Germany does) taxes would be so much higher than they currently are. BOJ bonds have been the LDP's solution to everything for over 20 years. Yes, the taxpayers will suffer the burden, but for the time being the grey old men at the LDP are content to delay the inevitable just long enough to hand the problem over to the kids.

1 ( +1 / -0 )

However, there are no details on who and how will get money.

Probably this will land in the big firms' pockets or friends of friends, and at the end of the day, we will have to pay more for gas&electricity anyway.

The details are known if you listened to the local news, the money is going to distributors lije before the amount of subsidy per litre will be increased from 5 yen to 25 yen. As we all know the benefits won't trickle down to consumers.

The most infuriating thing is the media that just reads the news in passing without digging deep to educate the masses and reveal the truth. The worst media on the planet.

0 ( +0 / -0 )

If Japan were actually in any sense fiscally responsible (and saw debt as a moral issue as Germany does) taxes would be so much higher than they currently are. BOJ bonds have been the LDP's solution to everything for over 20 years

The issue is not whether taxes are higher or not but rather whether the money collected is wisely used and for the benefit of all and not a select few. While you are at it why not compare medical, educational, pension remuneration, food, highway tolls and other living expenses between Germany and Japan, just to remind you Germany took in 1M refugees and Japan 15

Ask yourself which is doing more for the international community.

0 ( +0 / -0 )

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