Japan Govt Adopts Asset Income Doubling Plan

Tokyo, Nov. 28 (Jiji Press)--The Japanese government Monday adopted a plan to double people's income from assets as part of efforts to promote a shift from savings to investment.

The plan includes making the NISA small-lot investment promotion scheme permanent and tax-free periods under NISA indefinite.

The government also set a goal of expanding the amount of domestic investment in startup companies to some 10 trillion yen in fiscal 2027, up over 12-fold from the current level, and increasing the number of startups to 100,000, up more than 10-fold.

Both plans are an important part of Prime Minister Fumio Kishida's efforts to achieve a virtuous circle of growth and wealth redistribution.

Under the asset income doubling plan, the government set a target of doubling the number of NISA accounts to 34 million and the amount of investment under the NISA scheme to 56 trillion yen over the next five years.

[Copyright The Jiji Press, Ltd.]