Japan Govt Submits Extra Budget Bill to Diet
Tokyo, Dec. 6 (Jiji Press)--The Japanese government on Monday submitted to the Diet, the country's parliament, a fiscal 2021 supplementary budget bill that calls for general-account spending of 35,989.5 billion yen, a record high for an extra budget, to finance measures aimed at promoting an economic recovery from the COVID-19 pandemic.
The government aims to enact the extra budget for the year ending in March 2022 by the end of this month. The budget also includes steps to support Prime Minister Fumio Kishida's goal of achieving a virtuous cycle of economic growth and wealth redistribution.
The extra budget earmarks 1,216.2 billion yen, part of the government's plan to spend 1,947.3 billion yen to distribute COVID-19 relief aid worth 100,000 yen per child aged under 19 in the form of cash and coupons.
Opposition parties are critical of the plan, especially pointing to 96.7 billion yen in administrative costs for distributing the coupons.
In the extra budget, the government will spend 1,432.3 billion yen to provide financial aid worth 100,000 yen each to needy households exempted from residential tax payments.
[Copyright The Jiji Press, Ltd.]