politics

Cabinet approves ¥29.1 tril extra budget for economic package

15 Comments

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"We should not hesitate to spend as needed in times of emergency to protect the livelihoods of people in Japan," Finance Minister Shunichi Suzuki said after the budget plan was approved by the cabinet.

This didn't happen during the pandemic and will not happen now. The LDP protects certain interests...such as during the pandemic when business/property owners received monthly compensation and major Japan Inc. shareholders received massive direct stimulus.

Everyone else a one time, delayed nominal subsidy.

The average household would save around 45,000 yen between January and September when the package, intended to lower electricity and city gas prices on top of gasoline and kerosene, is implemented.

Few specifics, but this is based on subsidies to utility companies passed on at their discretion and a possible savings to a representative household? The LDP love their vagueness and complicated bureaucracy to disguise their graft.

0 ( +5 / -5 )

People still swarming to gas-guzzling SUV’s. Put a tax on those things.

1 ( +4 / -3 )

Increasing my cost of living through inflation going up is not helping anyone. Why not be more creative in taxation? Hire taxes on cigarettes for starters, hire taxes on noisy expensive sports cars and suvs. If you want to do something useful with this latest ‘economic package’ how about a ¥150k tax rebate to anyone earning less than ¥3.5mil? Just repeating Abenomics is not helping anyone..

3 ( +6 / -3 )

This budget will be used to benefit large corporations what support LDP as ever, ​not for general citizen who are in poverty.

6 ( +11 / -5 )

too many words but i miss most crucial information.

who will get how much and how.if there will be any cap for income for this support or will be flat money for everyone.

JT you should do better job.

1 ( +3 / -2 )

Stop with these band-aids. Let's look for a long term solution.

3 ( +3 / -0 )

The Bank of Japan owns over 40 percent of outstanding government debt.

...so Japanese corporations owns the rest?

That's a very nice little earner (for corporate Japan), do nothing, take no risk, profits comes in off of taxpayers back.

-1 ( +2 / -3 )

They are preparing for the rolling blackouts and ¥400 a liter gas station prices after Japanese sponsored cap on Russian fuel, which will crash not just developing countries, but also developed. Will start in December.

whole economies will be wiped out. It will bankrupt up to 10% or more Japanese businesses. The estimation that will save ¥45000 is false. That takes into account the cost of living now. In a few months the cost of lividly be a lot, lot more than now.

-2 ( +2 / -4 )

Exactly!!

Decideds' WIlls' musts' and no times to waste' only for Looters and friends wives and families.

80 more YEARS!! And somebody tell recruit suit to graft these Looters some kinda jailbreak cosplay to go with all the Dirty biz.

Few specifics, but this is based on subsidies to utility companies passed on at their discretion and a possible savings to a representative household? The LDP love their vagueness and complicated bureaucracy to disguise their graft.

0 ( +1 / -1 )

Inflation is caused by printing money. Hey, let's fight inflation by printing more money.

The definition of insanity is doing the same thing and expecting a different result.

Japan's only saving grace is BOJ owns bonds that they can hold, otherwise, we would be looking at hyperinflation.

0 ( +2 / -2 )

Money for the J-Inc cronies first and foremost as always. A few crumbs for the peasants whilst uttering bs about "protecting the livelihood of the people". LDP daimyos never change for as long as the minions keep re-electing them. TIJ.

-3 ( +2 / -5 )

@Rodney after Russia becomes a failed state "once again" the west can swoop in and pick the carcass clean this time ;)

-1 ( +1 / -2 )

These people are totally insane. BoJ will buy all the bonds. No way out for Japan except inflation or economic chaos

-2 ( +1 / -3 )

Japan fast becoming a banana republic! Can’t just keep printing their way out of economic destruction!

-4 ( +0 / -4 )

We should not hesitate to spend as needed in times of emergency to protect the livelihoods of people in Japan

what a joke!! I did not see a yen of this spending!

0 ( +0 / -0 )

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