Cash Handouts Mulled in Japan to Ease Coronavirus Impact

Politics

Tokyo, March 19 (Jiji Press)--Cash handouts have emerged as a possible measure in an additional economic stimulus package to reduce the impact of the coronavirus spread on the Japanese economy, sources said Thursday.

The government and the Liberal Democratic Party-led ruling bloc are also considering a property tax cut as financial support to small companies in hopes of boosting their capital expenditures, the sources said.

"The government has yet to decide how much fiscal spending it will make," Finance Minister Taro Aso told a press conference.

Referring an emergency consumption tax cut sought by some ruling and opposition lawmakers, Aso said the government is not considering such an option, which would create confusion because the tax rate was raised to 10 pct only in October last year.

The government plans to draw up a large-scale stimulus package soon after its fiscal 2020 draft budget passes the Diet, the country's parliament, next week.

[Copyright The Jiji Press, Ltd.]

Jiji Press