Japan plans extra budget, handouts to pensioners to pump up recovery

There is a list of official minimum wage rates of the 192 United Nations member states. JP is modest on this one as stated.

This makes perfect sense. I mean, if you're going to unabashedly buy votes, it's best to pay the demographic who do vote and tend to vote for your party. Giving to the young would clearly stimulate the economy to a MUCH greater degree -- because they spend on discretionary items -- but they are less likely to vote and to vote the way you want.

If nothing else, Abe knows how to be efficiently corrupt. Well played, sir. Well played.

This latest "stimulus" package was the last straw for me. I packed it in on Friday, and dumped my meagre holdings of Japanese equities.

Despite the promising talk in the early days, this Abe government has proved to me at least that isn't going to be the one that leads Japan out of it's long term slump, it's just another presiding over the continuation and worsening of it.

Abe has called for raising Japan’s minimum wage, which is now at a modest 798 yen an hour on average, by 3% a year, aiming to get it up to 1,000 yen an hour by 2020.

He should be ashamed to make such a statement.

Shouldn't it read "Abe has proposed a "sinking" raft of policies..."

Bribery, corruption, vote-rigging? At first I am shocked, but I have to remember that these old folk are struggling because of AbeSuga, and they are the generation that rebuilt Japan after the Pacific War. I hope they can get some luxury in their old age, and not waste on Pachinko and snack.

Are these pensioners who are former farmers and/or own their own homes without debt?

Almost all of the social safety nets we have are exercises in vote buying, and though these programs benefit people in the short term, in the ling run they are nothing but ponzi schemes. Those who are collecting their pensions now, or will be getting them soon are the lucky ones. The rest of us are not going to fare as well.

There will come a time when they can no longer print out money to pay bills or buy votes, what happens then?

Do not the farmers get enough subsidies and tax right offs as it is?

They control the butter, and now controlling the bread too. Shameful Abe

The key is keeping the oldies who vote on board. The future doesn't matter to these folks because they won't be around to see it and, anyway, their relatives and scions are in the protected elite. As the country does off around them, they can use scare-tactics and a lack of a competent opposition to keep power long enough to ensure the old ways continue. Meanwhile, the masses will work day and night scrambling for a little. This little will be called "culture" and will be fiercely guarded even as it smells of decay.

@John-san

This is a very stupid reform of Abenomic and I support Shinzo.

His proper name is "Funzo" Funzo Abe.

While I don't like this obvious vote buying, at least they aren't going to give all away to deadbeat companies who never pay any taxes.

That said I think this is pretty daft as is usual.......always throw a couple yen at the symptom IGNORE the problems, that's Japan

Is it election season already? Your timing is off, 安倍さん。

In any case, I look forward to my next visit to Japan. Perhaps my US dollar will buy me 150-200 yen each.

Will they be driven to the closest polling station after they receive the subsidy?

Gather round ye pensioners who have been shafted by the pension system and bring your tin cups. Abe is going to toss a few coins your way. Once you get your coins be sure to spend them immediately to bolster the economy. Don't forget to support corporate tax cuts and the increase in the sales tax. And make sure you vote for the LDP.

language teachers will be happy to know

1,000 yen an hour by 2020.

More BS we'll be paying for later.

pump up the jams! Pump it UP! Everybody Daaaance now!

two words - STRUCTURAL REFORM.

It will likely include one-time subsidies of 30,000 yen for cash-strapped pensioners

I shudder to think how much administering this will cost. Just zero-rate food instead!

Easy to give cash to people who don't really need anything.

I very much doubt those of us who don't really need it are going to get anything. The article stipulates 'cash-strapped' pensioners. I'd like a definition of 'cash-strapped'.

Prime Minister Shinzo Abe has ordered cabinet ministers to prepare an extra spending package, including cash handouts for the poorest pensioners, seeking to breathe fresh life into Japan’s stalling recovery.

Wow, LDP Economics 101 -- print more cash and give it to tthe elderly and farmers. With 2015 government spending at a little over 103 trillion yen, this is not a small amount -- the defense budget is 4.98 trillion for comparison. Once again points to just what a collusal failure Abenomics continues to be.

Easy to give cash to people who don't really need anything. Young wage earner being screwed twice here.

Given Pensioners money to spend is stupid. They will sit on it or spend it on items like insurance or debt. This will stimulate the Japanese economy. This is a very stupid reform of Abenomic and I support Shinzo.

Another opertunity for fraud. - Ore Ore. Please give us your Bank details so we can put your money in your account,,etc.

Vote buying.

These pensioners who need the assistance are not going to be the one's reviving the economy. This is another ploy and playing games with the people's money and getting nothing in return for it.