Diet passes 3rd extra budget to reconstruct tsunami-hit regions
TOKYO —
The Diet on Monday passed the third supplementary 12.1 trillion yen budget to finance measures to reconstruct tsunami-hit regions and help companies fight the strong yen.
The government plans to fund the budget through spending cuts, sales of public assets, tax hikes and use of non-tax revenues as well as bond issuance.
The bulk of the budget is earmarked for rebuilding the northern region hit by the March earthquake and tsunami that left 20,000 people dead or missing.
A total of 355.8 billion yen will be used for decontamination and other measures to counter the worst nuclear crisis for 25 years after post-tsunami meltdowns at the Fukushima Daiichi plant.
The spending plan also includes 2 trillion financing for struggling businesses amid the yen’s appreciation to historical levels.
It includes 500 billion yen in subsidies to companies which build factories and research facilities in Japan.
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8 Comments
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-1
MaboDofuIsSpicy
No new taxes.
-2
NetNinja
Keep going. They still need more money. Please make sure you are getting the money out of TEPCO coffers as well.
0
cactusJack
No thanks to the tax hikes on top of tax hikes.
1
soldave
Passing all these extra budgets is great, but I think people are also curious to know what the Red Cross money and money from other aid agencies that was given to the local governments has been spent on.
-1
smithinjapan
Meanwhile the government is promising trillions to other nations, so who's going to pay for that?
0
pointofview
After reading this I now realize why there aren't many trees in Jland.
0
jforce
I have absolutely no idea what any of these numbers mean to me?
0
Kristianna Thomas
Japan was hit by a devastating tsunami that killed 20,000 people and a property damage in the billions of yen, will this be the last tsunami that will hit japan? No! Will the government build to prevent the next carnage from occurring on the shores of Japan. Out of the destruction of the tsunami should come a new area that will allow people and property against the devastation caused by a tsunami. What will they say the next time there is a 9.? earthquake off of the shores of Japan? Sorry?
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