Japan MOF Calls for Ending Small-Biz Coronavirus Relief
Tokyo, Oct. 26 (Jiji Press)--Japan's Ministry of Finance on Monday proposed that coronavirus relief programs for small businesses be terminated on Jan. 15 next year as scheduled.
The ministry made the proposal at a meeting of the subcommittee on expenditure reform of the Fiscal System Council, which advises the finance minister. The subcommittee discussed aid measures for small businesses hit hard by the coronavirus crisis.
Relief benefits for businesses suffering sales slumps and struggling to pay rent are "emergency responses," a ministry official told the meeting, saying that both programs should end at the currently set deadline for applications.
The proposal is likely to draw negative reactions as many small businesses are still struggling to stay afloat.
The relief program for small business operators suffering sales slumps pays up to 2 million yen in benefits per company and up to 1 million yen per individual proprietor. A total of 4.7 trillion yen had been handed out as of Wednesday.
[Copyright The Jiji Press, Ltd.]