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© KYODOGov't to spend record ¥55.7 tril on economic stimulus
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© KYODO
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dagon
Kishida, who took office last month and led the Liberal Democratic Party to victory in the Oct 31 general election with a pledge to craft a stimulus package worth "tens of trillions yen," is set to increase support for households and companies in an attempt to meet his goal of redistributing wealth.
When the first big pandemic stimulus came out under Abe last year, I was surprised to hear even the broadcast morning wide shows comment on the fact that a minuscule portion was going to direct stimulus to the populace, especially compared to other G7 nations.
The rest goes into that black hole with labels like "Dentsu", "local monument to some sea life delicacy to promote tourism in my district" and "Cool Japan related pork".
Tom Doley
Will they use part of that stimulus to buy multiple money printing machines so they can work overtime? Love how jgov creates more debt so the shrinking future generations can sell their country out. Sugoi Japan.
kurisupisu
Whatever it is they do it’s too little, far too late!
Mark
Where is my $ check ?
fxgai
So get with the program - centrally planned wage and price controls were abandoned by enlightened reformers elsewhere last century.
Some “neo-liberal” reforms wouldn’t go a miss now, better late than never.
But the only thing liberal about the LDP is the way it liberally spends money the government doesn’t have.
JeffLee
I love how jgov can get the Bank of Japan to buy its "debt" with no impact on its interest rates, inflation, currency strength or any other area of its economy.
Ken Holcomb
Here's an idea for all those financial "experts" expressing concern or deriding the government's plans:
Don't take the money offered. Just refuse to accept it.
There now you've done your part to improve the economy.
Congratulations.
Eastman
cash handout.
very unfair scheme.makes all tax payers in Japan unequal ones.like casts in India...
people with total family income over 9.6mil jpy paying much more % tax than those with lower income.still cant benefit from cash handout.they are just sponsors without any benefit from it.
family with kids say university student 19yo,still child by japanese law,in middle of pricey schooling funding will get-nothing.
but yes Dentsu and friends will enjoy nice cash support as always...
indigo
Now inflation will explode. 500yen/tomato!!