News Japanese government considering ¥30,000 stimulus checks to revitalize economy

[thomas]

Yay, more handouts!

The government is considering offering one-time support payments of 30,000 yen to low-income households exempt from resident tax as part of a stimulus package for Japan's economy, sources close to the matter said Wednesday. There is also a proposal to add 20,000 yen per child to such households with children, the sources said. The cash handouts would come as rising energy and other costs have been affecting Japanese households. Under the stimulus package, to be compiled later this month, the government is also expected to reintroduce subsidies for electricity and gas bills and extend those aimed at curbing gasoline prices beyond the year-end deadline. The government will draw a supplementary budget to finance the stimulus measures, aiming to have it passed by parliament within the year. The amount of the support payments could be raised depending on discussions with the ruling parties, the sources said.

Gov't eyes ¥30,000 cash handouts to stimulate Japan's economy

The government is considering offering one-time support payments of 30,000 yen to low-income households exempt from resident tax as part of a stimulus package for Japan's economy, sources close to the matter said Wednesday. There is also a proposal to add 20,000 yen per child to such households...

japantoday.com

 

[Mikawa Ossan]

Didn't they do something similar back in 2009? It was right at the time I left, but I seem to recall people looking at the idea with disdain. Has that changed, I wonder?

 

[Lothor]

Didn't they do something similar back in 2009? It was right at the time I left, but I seem to recall people looking at the idea with disdain. Has that changed, I wonder?

I remember that! It was 12,000 yen for every resident of Japan (even the gaijin got it) and was completely untargeted - rich and poor alike received the money - and we were encouraged to spend it. Basically, a bribe by that idiot Taro Aso, who was PM at the time. The effect on the economy was negligible and he soon lost the election in a landslide after the records of pension contributions of millions of people were lost on his watch.

At least this proposal targets the people who need the money, but it's still a badly thought-out policy that will increase government debt, with its effects soon forgotten. The tax system needs reforming to remove the disincentive to earn more than about 1.3 million a year, a system that was set up when most families had a single earner.

 

[Mikawa Ossan]

Another gimmick to stimulate the economy I remember from around that time was the introduction of the 2000 yen bill. I don't remember exactly when that was (probably Y2K), but it was another idea that was thoroughly derided in the circles around me. It's a pretty bill, though. I think it's become the $2 bill of Japan.

 

[Lothor]

Another gimmick to stimulate the economy I remember from around that time was the introduction of the 2000 yen bill. I don't remember exactly when that was (probably Y2K), but it was another idea that was thoroughly derided in the circles around me. It's a pretty bill, though. I think it's become the $2 bill of Japan.

The only people I see with these very rare notes are foreigners - I was very impressed when my favourite and sadly missed uncle turned up with a few of them. Apparently, they are not popular with Japanese people, so foreign exchange places give them to tourists.

 

[thomas]

Apparently, they are not popular with Japanese people, so foreign exchange places give them to tourists.

Post in thread 'New Japanese banknotes in 2024'

13 Dec 2023

And, what about the unloved, but still charming 2,000 yen notes? No mention of these. I guess they will be quietly killing these off. The resistance to these is funny. Not unlike Americans' resistance to using a dollar coin, even though it would make an enormous amount of sense.

The other day, I saw this on Twitter: the poster exchanged money in Lithuania, and all her change came in 2,000-yen bills.

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• thomas

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