Japan Lower House OKs FY 2021 Extra Budget

Politics

Tokyo, Dec. 15 (Jiji Press)--Japan's House of Representatives passed on Wednesday the government's fiscal 2021 supplementary budget designed to finance measures aimed at recovering the country's economy from the COVID-19 pandemic.

The extra budget for the year ending in March 2022 cleared the lower chamber of parliament by a majority vote with support mainly from the ruling coalition. The Constitutional Democratic Party of Japan and other opposition parties voted against it.

The supplementary budget, which features record general-account spending of 35,989.5 billion yen, is expected to be enacted Monday after deliberations at the House of Councillors, the upper chamber.

The stimulus measures include distributing 100,000 yen in benefits to people aged 18 or younger, providing points worth up to 20,000 yen to holders of the My Number social security and taxation identification card and raising the pay of nursing and care workers.

The government will issue 22,058 billion yen of bonds to fund the extra budget, bringing their outstanding amount above 1,000 trillion yen for the first time at the end of fiscal 2021.

[Copyright The Jiji Press, Ltd.]

Jiji Press