People walk along an alley with restaurants in Tokyo on Friday. Photo: AP/Eugene Hoshiko
politics

Cabinet to spend ¥549.2 bil in reserve funds on virus subsidies

21 Comments

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21 Comments
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This is great as long as it doesn’t wind up in the pockets of corrupt politicians and executives. So many people have lost theIr income and really need the money.

6 ( +8 / -2 )

So, more travel and eating campaigns then?

5 ( +7 / -2 )

I wonder how much of that will eventually trickle down to the public? For example, those who lost jobs or business in the unenforced shutdown early on the crisis and for whom payroll protection would be of no help.

10 ( +10 / -0 )

Great! I'm tired of going to work everyday, especially that it's Japanese environment, I prefer to stay home get that 15 000 a day and relax with my family instead of slaving all day for Japanese company.

1 ( +3 / -2 )

I'm actually worried they are spending too much. Not just the subsidies, but huge payouts for research that probably has nothing to do with vaccine discovery.

5 ( +6 / -1 )

"So, more travel and eating campaigns then?"

If it helps the mom and pop business, why not?

-1 ( +3 / -4 )

"The government set aside 86.0 billion yen to put toward an existing subsidy program aimed at encouraging domestic manufacturers to reshore their overseas production bases. The push to bring business activity back to Japan is intended to help shore up supply chains in case of emergencies."

Good. Japan need to bring these jobs back to Japan. The government needs to spend more and bring all our production back from China.

-2 ( +3 / -5 )

 @Nihonview

"So, more travel and eating campaigns then?"

If it helps the mom and pop business, why not?

But it doesn’t help those small businesses, does it, the large ones benefit.

8 ( +9 / -1 )

"But it doesn’t help those small businesses, does it, the large ones benefit."

So when I use my Go to eat coupon at the mom and pop ramen shop. It doesn't help them?

When I use my go to travel coupon to stay at local inn and spend money in the local economy it does not help them?

Please explain. Please use economics if you can.

-5 ( +2 / -7 )

the Is a false positive. Once that money has gone the contraction will be worse than ever. Throwing it around in my opinion.

3 ( +4 / -1 )

The devil is in the details - how are they going to see that the relief gets to those who most need it, not those who will bank it?

7 ( +7 / -0 )

"...an existing subsidy program aimed at encouraging domestic manufacturers to reshore their overseas production bases."

Japan has no right to castigate the US and other countries of being "protectionist" or anti-globalization.

3 ( +4 / -1 )

¥549.2 bil..... magic money does not fall from a tree..

Next generation has to foot the bill

3 ( +6 / -3 )

[in the photo] what is "Ranagi no ~ " ?

-2 ( +0 / -2 )

I wonder if the telecommunications companies are plowing money into new networks systems, so people can work from home more, and if so is the government financially backing them?

If workers are going to be working from home more this could be beneficial to the economy, since office worker wont go home until the boss goes home and then they all go out drinking, if the workers at home he can spend more time with his wife and kids, or if they dont have any, may be they will because hes at home! he wont be having to obey office rules about the boss going home.

we've noticed here in the UK that there is a lot of large office space coming up for rent as companies are now down sizing as the bosses have realised that they can save 30-40% on office rent, less heating, less lighting, less water machines, thus making the co more profit, or more competitive, office workers are better off, no commuting, on the odd occasion they might have to go into the office, less time stuck in traffic, the car is not requiring 3 services a year, just one, saving on tyre and repairs, more flexible time at home.

1 ( +1 / -0 )

"The additional funds are expected to spur investment in tackling new challenges and lead to economic recovery."

pwhat?

I don’t want government loons spending borrowed money on what they deem to be “investment”.

The free market will figure out what to invest in far better than the vested interest laden politicians can. Once they get the fingers out of everything then perhaps we might see some economic growth.

0 ( +2 / -2 )

The economic fallout because of these lockdowns is going to be insane...

A big eikawa chain I work at is firing 90 teachers, about 10% of its workforce. They might fire even more after that and they've already stopped renewing contracts too.

Global demand has tanked too and this looks possibly even worse than the 2007 financial crisis (UK GDP this year dropped 20%, worst ever). The central banks have the money taps on right now so we aren't really noticing it but this is going to be excruciating if we don't get back to work asap

3 ( +3 / -0 )

I would add to the above comment that the teachers being fired are permanent staff. Ones on casual contracts like me have essentially been unofficially made redundant because we don't have any fixed hours and are getting nothing so I've lost 1/3 of my income.

Probably 1/3 of the workforce there is gone practically

2 ( +2 / -0 )

This spending is only response for economy or employment.

Suga government who underestimate Covid-19 has no interest to expand medical resource despite immediate before season of low temperature and low humidity.

2 ( +2 / -0 )

The yen is a fiat currency. It can be employed to pump-up the economy and easily offset.

2 ( +2 / -0 )

Always good to have a few trillion up your sleeve.

0 ( +0 / -0 )

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