Osaka Mulling 1-M.-Yen Aid for Small Biz under Closure Request

Politics Economy

Osaka, April 15 (Jiji Press)--The prefectural government of Osaka, western Japan, has started considering a plan to offer one million yen each to small firms and microenterprises that suspend operations as requested by the local authorities amid the coronavirus crisis, Osaka Governor Hirofumi Yoshimura said Wednesday.

Each sole proprietor who follows the prefecture's temporary closure request made in line with the central government's declaration of a state of emergency last week over the pandemic will get 500,000 yen, Yoshimura told a news conference.

The prefecture aims to carry out the payments in early May, with the costs to be equally shared by the prefectural and relevant municipal governments.

The money will be available to companies that follow the suspension request until May 6, the last day of the period covered by the state of emergency declaration. Some 60,000 businesses in the prefecture will be eligible for the initiative, with the total amount of payout seen reaching tens of billions of yen.

The prefectural government will include the step in its planned supplementary budget to be drawn up late this month, aiming to secure necessary financial resources using local revitalization grants from the central government and the prefecture's fiscal adjustment fund.

[Copyright The Jiji Press, Ltd.]

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