Japanese govt has proposed distributing JPY 10K to low income individuals - Nikkei
|The Japanese Government has proposed a distribution of 10,000 yen or more to low-income individuals as part of an upcoming jump-starting economic growth's plan, The Nikkei reports.
Key quotes, via The Nikkei:
"Other proposals include a minimum-wage hike of 24 yen -- the most ever -- to 822 yen an hour in fiscal 2016 as well as cutting the premiums that workers and their employers pay into the unemployment insurance program. The government submitted the outline to ruling coalition lawmakers Tuesday."
"The plan will span a supplementary budget slated for this coming fall and next fiscal year's main budget. The stimulus measures are expected to have a nominal value of 20 trillion yen to 30 trillion yen overall, with roughly 6 trillion yen over several years to consist of direct fiscal spending by the central and local governments. The rest would include such items as lending by government-backed financial institutions."
"The government favors distributing 10,000 yen in cash to low earners instead, but Komeito is holding out for 15,000 yen."
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