Gov't to give financial support for shorter hours as virus surges

Suga: "Please stay home. Don't go out. We want to stop the spread of the virus...

But if you do decide to go out, why not utilize the government campaigns that pay for your meals and travel expenses, which are specifically aimed at increasing the number of people who go out."

Where is all this money coming from?

What divines said!

large amounts of its own money with no serious consequences until inflation starts to rise to excessive levels.

And as most people seem to miss, obviously not you as this is spot on, is that the "debt" the government has, while beyond excessive, is for the most part, the Japanese people's money, and not money funneled in from abroad.

It's rather like taking money from one's right hand and putting into their left one!

Many Izakaya or Bars earn that within one evening.

Many take that in in sales but dont "earn" that much. Granted it isnt much, but for many it would at least cover their rent.

This is why the government does not order a shut down, as then these businesses would be claiming far more from the government.

The request for shorter opening hours will be limited to specific areas and industries, Suga said.

My friend tried to get compensation from another such scheme. The paperwork was very difficult. He was advised to use an accountant to process the application conditions.

It would be more expensive to apply than the return.

My GF just received the application form and other requirements for this.

Typical of Japan, it is going to take her at least 2 full days to prepare all of the business information, documents and to collate all the info from her 6 employees.

She said it hardly seems worth all the effort for 'a chance' to receive a little support...

between 200,000 yen and 300,000 yen per outlet for one month

This amount is ridiculous...

Many Izakaya or Bars earn that within one evening.

What divines said!

I'll second that!

Government proposed support to late-night shops... 6500 yen ($60 US) per day for one month.

Since nothing can be mandated, most business owners will quickly rebuff this ridiculous offer.

@Yubaru

Yes you are right. "Take that in sales" is the correct wording.

Sorry my english is not so good.

I mean from what they "earn" at one evening, they also must pay tax and rent.

Severe lack of reading comprehension is apparent in the comments.

20/30 万円 per month? RIP

I ran a bar in Japan for six months a long time ago and our highest takings were about 250,000 on New Year's Eve. That was with I guess 100 people in and staying open until 5am. Most weekday nights were 30,000 yen or so in takings. With wastage factored in, it cost us nearly 300 yen in beer and CO2 just to pour a 500 yen draft beer. The kegged beer in we bought was pretty much the same price as the beer in the supermarket. It was only really spirits where we made any money.

In doing research into the record number of ramen shops that have gone under because of the pandemic and soft lockdown, I discovered what some of those shops pay for rent in the Tokyo/Osaka area.

¥300,000 doesn’t cover it.

Some of the shops paid ¥1,000,000 a month in rent. (They grossed about ¥7,000,000/month).

The unfortunate part is a lot of Tokyo/Osaka ramen shops relied on office workers on their way home after drinking or working overtime; that demographic dried up really quickly.

@warispeac

Since money is debt/promise and since most debt must be paid back with interest,...

Not public/govt/fiscal debt in a fiat-currency issuer country. For starters, the BOJ, the govt fiscal authority, has already bought about half the debt (govt bonds) and has the option to cancel it if it wants or just hold on to it forever. That "debt" has been effectively neutralized, and these operations in Japan are conducted very easily.

And those bonds are merely surplus yen in the economy (that the govt hasn't taxed back). the govt converts the yen money to bonds to give holders the option to earn some interest as well as for the BOJ to use as tool for conducting monetary policy.

A currency issuer doesnt "borrow" its own money, because it's the one that produces the money in the first place.

The government cant order a shutdown they can only ask correct me if i am wrong?

They can, but wont, due to financial problems that would arise from paying out compensation.

Despite a spike in cases, Suga has said the government will maintain its Go To Travel subsidy campaign to support domestic tourism.

The commonsense that is just for Japan on display...

Severe lack of reading comprehension is apparent in the comments.

20/30 万円 per month? RIP

Like the saying goes, "People in glass houses....." Read the 4th paragraph!

The money has been set aside assuming payments of between 200,000 yen and 300,000 yen per outlet for one month, according to officials.

Sorry my english is not so good.

Better than many here! No problem! Have a great day!

large amounts of its own money with no serious consequences until inflation starts to rise to excessive levels.

And as most people seem to miss, obviously not you as this is spot on, is that the "debt" the government has, while beyond excessive, is for the most part, the Japanese people's money, and not money funneled in from abroad. It's rather like taking money from one's right hand and putting into their left.

This is not entirely correct. Money, basically, is a promise to pay. Since money is debt/promise and since most debt must be paid back with interest, then a part is money that will come from future debt. Which means is money or a burden on the unborn.

Yabaru, did you want to say that the promise is mainly between Japanese people and so it is not an increase in foreign debt? If so, does it really matter if the master to whom you are beholden is local or foreign?

Of course they will; the point of these lockdowns is to get people and businesses to become reliant on government subsidies. It's a dry run for UBI, which ties into everything else you do, like using only digital currency, a social credit score, and more.

It's all part of the "Great Reset" that the World Economic Forum and tools like Klaus Schwab are pushing for you and me. The end goal: to make us slaves.

Where is all this money coming from?

Japan's currency, the yen, is issued by the government and the Bank of Japan. Japan can continue issuing large amounts of its own money with no serious consequences until inflation starts to rise to excessive levels.