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Japan plans huge stimulus package to cushion blow from coronavirus

26 Comments
By Tetsushi Kajimoto and Izumi Nakagawa

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© Thomson Reuters 2020.

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26 Comments
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I sure hope they go bigger than distributing "魚券、和牛券" as has been stated. If there is a hard lock down and many places close and people can't go out, there are going to be a lot of people facing hard times and they will need real financial support. Like what the US gov't is going to do. Cash payments while also bumping up the employment insurance payments

8 ( +10 / -2 )

Not one mention of rent or mortgage support. As the lockdown gets more severe, which it will have to, banks and landlords are going to have to suspend rents, mortgage payments and loan payments. The local councils are also going to have to suspend their witch hunt on city taxes. The situation is past propping up companies. It is the Naoki Averages of the country who are going to go broke and end up homeless without support.

13 ( +15 / -2 )

Maybe they could also do something about the health care system? Buy another ventilator or 20,000.

9 ( +12 / -3 )

People need cash in their hands so they can deal with their own personal situations- like paying rent, mortgages, debt, food, medication etc.

‘Beef and fish coupons’ are a complete waste of time, and the fact such an idea is even being given the time of day is yet more evidence that these people just don’t have a clue.

12 ( +14 / -2 )

Fish and beef coupons?, will my bank accept them in Lew of my monthly mortgage? Are those in charge so disconnected from normal life. From their idiotic ideas it would appear so.

5 ( +8 / -3 )

Actually food coupons are a great way to stimulate the economy. First, they have to be used, whereas cash handouts will just be saved. Secondly, the coupons will benefit domestic industries.

Aside from people working in the tourism industry, not many people have lost their jobs. So the demand for rent/mortgage relief wouldn't help that many people.

-9 ( +2 / -11 )

Current economic system needs to end - stimulus packages by governments are the most visible sign that the current system is far removed from reality, and in its death throes.

Stimulus - money pumped into an economy to boost what is ultimately destructibive cycle of over-consumption but to maintain countries competative egos and 'all important' stock markets.

3 ( +6 / -3 )

Err no, food coupons are what I don’t need.

I see my income (already impacted) getting lower in April, possibly May and June too.

I still have utilities and rent to pay this month!

6 ( +7 / -1 )

Print more money -- yeah, that's the ticket. It's happening in every part of the planet. Get ready for stagflation. Stagnant or declining economic growth coupled with severe inflation due to an overheated fiat currency supply. History tells us this is a recipe for disaster.

10 ( +12 / -2 )

History tells us this is a recipe for disaster.

Our entire economic system is a disaster. The fact that our economy can't afford for people to take a few weeks off to protect ourselves from disease exposes the failure of a system that has the bottom 80% of the people competing for like 10% of the resources.

The world is ready for an economic revolution. Between the internet, block chain, and decentralization, we need to create systems that keep more money in the hands of the people who actually work for it, instead of funneling billions to a few at the top, while those at the bottom work two jobs and can't even afford the insurance that would allow them to get tested for coronavirus.

8 ( +9 / -1 )

Whoooooo, a fish coupon! Now if only I could pay the utilities I could cook it. That's if the bank doesn't take my house. Really wish I'd bought that tent now. If you have no adress is it ok to burn cardboard under a bridge? This fish is not going to last forever.

3 ( +4 / -1 )

Print more money -- yeah, that's the ticket.

If the authorities didn't print money, we wouldn't have any. Would that make you happier?

History tells us this is a recipe for disaster.

History tells us austerity in times of low demand is a disaster and that stimulus is a savior. America's booming postwar growth and prosperity came as a direct result of the massive govt spending during WW2.

-5 ( +1 / -6 )

A mortgage holiday and a cash payment of 250k(cash not in food vouchers) per adult would be a good way to start things off. If it’s per household you’re penalising married people instead of helping them more than single people..

5 ( +5 / -0 )

Universal Basic Income for the world

4 ( +4 / -0 )

Dump the sales tax. Automatic 10% increase in yen in the purse for everyone.

6 ( +6 / -0 )

Not only its sizable amount, timing for provision is also crucial. Due to fund shortage, bankruptcies are imminent and contagious.

1 ( +1 / -0 )

A mortgage holiday and a cash payment of 250k(cash not in food vouchers) per adult would be a good way to start things off. If it’s per household you’re penalising married people instead of helping them more than single people..

Not just married people but also everyone who lives in a multi-generation house. There are so many 3 (and in some cases 4) generation households here. Any cash payment must be paid per person and not per household.

1 ( +1 / -0 )

Approx ¥400,000 per person to cover 3 months accommodation, bills and essential expenses is not bad in a pandemic. Maybe partly in gift cards (¥100,000) to get people into the shops to get the ball rolling would be much better than nothing.

In relation to minimising the spread 3 months is not too optimistic. However, if the public don’t listen/aren’t enforced to social distance then second waves or spikes in cases makes 6 months more likely, therefore doubling the bill for the government. Let’s not go there please!

0 ( +0 / -0 )

In New Zealand, every working adult was given/will be given ¥600,00 to live off for the next 12 weeks.

2 ( +2 / -0 )

Cameron

In New Zealand, every working adult was given/will be given ¥600,00 to live off for the next 12 weeks.

Do you mean ¥60,000 per week for 12 weeks?

1 ( +1 / -0 )

In Abes world, there is no sitation that he can not "stimulate" the country out of. I am stimulated enough already.

1 ( +1 / -0 )

Seems to me that the most important thing to do for the foreseeable future is to take care of the problems directly associated with the Covid-19 outbreak. Helping the economy, in the form of helping people, is important. Trying to stimulate the economy in order to help the stock markets may actually be counter-productive, as going back to work before the flu is contained is suicidal.

3 ( +3 / -0 )

Here's a couple of suggestions.

First, eliminate any and all NHK payments.

Second, complete step one first.

-1 ( +0 / -1 )

Zichi

Do you mean ¥60,000 per week for 12 weeks?

My parents said everyone can receive$7000 worth of support. More for parents with children.

Wether that is one lump sum or not, I don't know. I think employers pay it to their workers after they have received it from the government.

0 ( +0 / -0 )

This is going to be interesting me wonders what silver spoon boy and his cronies will come up with..

1 ( +1 / -0 )

The local councils are also going to have to suspend their witch hunt on city taxes

Maybe they could also do something about the health care system? Buy another ventilator or 20,000.

Question. If no one pays taxes, then how are the local governments going to buy 20,000 ventilators?

A ventilator costs around 50,000 USD, So 20,000@50,000=1,000,000,000USD.

How will the government pay for them with no tax income?

-2 ( +0 / -2 )

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