LDP Kishida Calls for Extra Budget Far over 15 T. Yen

Politics

Tokyo, March 22 (Jiji Press)--Japanese Liberal Democratic Party policymaker Fumio Kishida on Sunday called for a supplementary budget far over 15 trillion yen to cut the negative impact of the coronavirus outbreak on the economy.

"We must consider a size far exceeding the level at the time of the Lehman crisis," Kishida said in a television debate program aired by Japan Broadcasting Corp., or NHK.

Japan released an economic stimulus package featuring 15.4 trillion yen in state funds in April 2009 in response to the global financial crisis triggered by the collapse of U.S. investment bank Lehman Brothers in 2008.

"We need more drastic measures," Kishida said, proposing cash handouts and other steps that directly reach households.

Noritoshi Ishida, the policy head at Komeito, the ruling LDP's coalition partner, said it is best to distribute a fixed amount without setting an income limit for eligible recipients.

[Copyright The Jiji Press, Ltd.]

Jiji Press