Japan aims for $4.35 billion spending to boost economic security - draft

FILE PHOTO: People walk at a crossing in Shibuya shopping area, amid the coronavirus disease (COVID-19) pandemic, in Tokyo, Japan August 7, 2021. REUTERS/Androniki Christodoulou/File Photo
FILE PHOTO: People walk at a crossing in Shibuya shopping area, amid the coronavirus disease (COVID-19) pandemic, in Tokyo, Japan August 7, 2021. REUTERS/Androniki Christodoulou/File Photo

By Takaya Yamaguchi

TOKYO (Reuters) - The Japanese government plans to spend about 500 billion yen ($4.35 billion) to strengthen economic security as part of a stimulus package it is due to announce on Friday, a draft of the plan reviewed by Reuters showed.

The spending would support the development of semiconductors as Japan seeks to secure stable supply chains for key technologies, according to the draft, which the ruling Liberal Democratic Party (LDP) has approved.

"The package will be comprehensive scheme by making use of all policy steps available," including regulatory and institutional reform and tax revision, the government said in the draft.

It promised "strong support for implementation" of the measures.

Nurses' salaries will be increased by 3% in stages - starting from 1%, or 4,000 yen, a month - from February, while those for caregivers and childcare workers will also increase by 3%, or 9,000 yen a month, from the same month, the government said in the draft.

($1 = 114.8400 yen)

(Writing by Tetsushi Kajimoto; Editing by Chang-Ran Kim)

(c) Copyright Thomson Reuters 2021. Click For Restrictions -
https://agency.reuters.com/en/copyright.html

Reuters Japan Asia East Asia