November 10, According to Kyodo News, Japanese Prime Minister Yoshihide Suga issued instructions to relevant cabinet officials at the Cabinet meeting on the 10th, requesting the formulation of additional economic measures and the third supplement in 2020.
budget case. It is said that with regard to the third supplementary budget, there have been calls from the ruling party in Japan to substantially exceed the 10 trillion yen scale.
According to reports, the third supplementary budget will be prepared in December 2020 and will be integrated with the subsequent 2021 budget to demonstrate the Japanese government’s commitment to economic recovery through continuous financial allocation.
Yoshihide Suga emphasized at the cabinet meeting, “We must consolidate the trend of economic recovery and return to the growth track led by private demand.” In addition to the new crown measures, he also cited digital reforms, technical support for greenhouse gas reduction, and encouragement of personnel Projects such as local mobility require comprehensive measures.
The report pointed out that with regard to the third supplementary budget, there have been calls from the ruling party in Japan to substantially exceed the scale of 10 trillion yen about 100 billion USD.
As tax revenue, which is a basic source of finance, will decrease due to economic stagnation, additional issuance of deficit treasury bonds may be imperative.
In terms of employment countermeasures, the special measures for “employment adjustment subsidies” are planned to be extended for a period of time after January 2021.
The tourism support project “Go To Travel” will also consider extending the deadline. The expansion of subsidies for infertility treatment promoted by Yoshihide Suga will also be included.
