Tokyo: Japan will consider one-time cash payment of 100,000 yen ($ 901.55) to low-income citizens to facilitate differences in social inequality caused by Pandemic Coronavirus, Public Broadcasting NHK quotes the head of the country’s power policy in the country.
Hakubun Shimomura, Head of the Liberal Democratic Party Policy Board, said he would propose the government including cash payments in a new economic package and making it a part of party promises for general elections.
The general election will mature later this year.
Comments from the heavyweight of the Liberal Democratic Party raised the specter of other large-scale fiscal stimulus when Finance Minister Taro Aso had voiced concern about massive debt stacks.
Shimomura said it would be difficult for non-regular workers and single parents to get out of pandemic without financial assistance, NHK reported.
However, ASO has opposed the uniform cash payment, which has repeatedly said he will leave anything other than a pile of debt for future generations.
Economy Minister Yasutoshi Nishimura opened the possibility of additional expenditure plans on the road.
“We have the remaining Coronavirus emergency reserves worth 4 trillion yen, so it will respond flexibly to take the steps needed with the eye in the economic situation,” Nishimura told reporters after a cabinet meeting.
Japan can make an additional budget of around 10 trillion yen without issuing additional interest thanks to the overshoot tax from the last fiscal year and loading the front-loading of the issuance of rollover bonds and sales of Treasury bills, said Chief bond strategist at SMBC Nikko Securities.
Larger expenditure can highlight fresh loans that will add the toughest debt of the industrial world with a size of more than double the Japanese economy of $ 5 trillion, and will follow the covid-19 stimulus which is quite $ 3 trillion deployed over the past year.
With the eye in the election, the Japanese ruling party considers cash payments
