Japan aid the low-income household by providing a monetary support thoroughly. Low income households in Japan will be given ¥30,000 per child. Japan’s aid to low income households itself also includes reducing gas bills for liquefied petroleum.
In addition, the incoming support will also add another ¥50,000 per child. The government will use the reserve funds in the state budget for the year ending fiscal on March 31.
The regulation is a way for the government to further up providing their assistance to households. Government realizes the possible struggle caused by rising food and energy prices due to inflation.
The regulation apply to every household that are exempt from paying resident taxes
“We will allocate 2 trillion yen for the steps, Including those to cope with COVID-19,” said Hirokazu Matsuno as the Chief Cabinet Secretary in lieu of Japan Prime Minister Fumio Kishida due to his visit to Ukraine.
“We will respond to the situation depending on the changing price and economic developments,” said Hirokazu Matsuno
Ukraine’s warring situation has affected energy cost significantly since last year. Furthermore, the spiking prices and Yen’s weakening to the USD dealt some serious blows to Japan’s conditions.
Furthermore, with the financial support hopefully will maintain the stability of Japan households in general. This also in hope to prevent the upcoming inflation from getting worse
The fresh relief package will also reduce the petroleum gas charges. In the meantime, other energy sources have been in the hindsight such as electricity, petroleum and kerosene.
Kishida has been urging companies in Japan to increase pay at the annual spring wage negotiation. Since the quickening inflation has been weighing consumers for some time. This also further worsened by the wage growth that hasn’t been able to keep up with it.
