31 July, 2014 AsiaNews.it Twitter AsiaNews.it Facebook            

Help AsiaNews | About us | P.I.M.E. | | RssNewsletter | Mobile





mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato
e-mail this to a friend printable version


» 04/09/2009
JAPAN
Government to adopt 154 billion dollar stimulus package
Money is set to help companies and the unemployed and stimulate consumption. But experts warn it will just be a short-term reprieve that increases the tax burden in the future.

Tokyo (AsiaNews/Agencies) – Japan’s ruling Liberal Democratic Party released today the blueprint for a record US$ 154 billion stimulus plan, equivalent to 3.1 per cent of GDP. Prime Minister Aso had insisted on it and his government is scheduled to officially announce it tomorrow. It is not clear though where the money will come from but government sources say that it could be from new government, bench-mark 10-year bond yields worth 10-11 trillion yen. The plan is expected to include tax exemptions on home buying, a greater child-raising support allowance, help to jobless people, promotion for environmentally friendly products, measures in favour of solar panels and help for small companies in difficulty.

Japan is battling its deepest recession since Second World War with exports and domestic consumption plummeting and cuts in production and thousands of layoffs. Its economy shrank in fact 3.1 per cent in October-December from the previous quarter and is expected to have shrunk a further 2.5 per cent in January-March.

The government needs immediate results in light of upcoming elections. But analysts have warned that such a plan is likely to only have a short-term impact on personal spending without improving productivity. It will also not help the country rethink and reorganise its industrial model and economy.

“The contents [of the plan] look like temporary measures to front-load demand, but they do not pay attention to increasing productivity on the supply side,” economist Masamichi Adachi said.

Japan is the most debt-ridden industrialised country in the world and has already earmarked 33.3 trillion yen in new bonds for this fiscal year.

The stimulus plan also faces a potentially stormy ride through parliament, where the opposition controls the upper house and can stall legislation.

Mr Aso has threatened to bring forward an election due by October this year if the opposition stalls the package.


e-mail this to a friend printable version

See also
09/01/2011 JAPAN
Yoshihiko Noda's election to resolve a political and social crisis
by Pino Cazzaniga
09/29/2009 JAPAN
Prices and employment plunge as fear of deflation grows
08/28/2009 JAPAN
Tokyo-vote: towards a political earthquake
by Pino Cazzaniga
11/24/2008 CHINA
Beijing tries to stimulate domestic consumption, against unemployment and revolts
08/24/2011 JAPAN
Moody’s cuts Japan’s rating from Aa2 to Aa3

Editor's choices
VATICAN
"Stop! I am asking you with all my heart. Stop!" says pope as he speaks out on the Middle East, Iraq and Ukraine He mentions children, victims of war, "from whom we take away the hope for a decent life," urging the parties to address "every diatribe with the tenacity of dialogue and negotiation and the power of reconciliation". As tomorrow marks 100 years since the outbreak of the First World War, "a day of mourning," we should learn the lessons of history. The Gospel makes us know the true Jesus, the living Jesus, who speaks to the heart and is a life changer as he was for Saint Francis of Assisi. "The joy of finding the treasure of the Kingdom of God comes through, can be seen. Christians cannot hide their faith."
IRAQ - VATICAN
Saddened by "the timidity of the civilised world," Baghdad patriarch's heart bleeding "for the innocent in Iraq, Syria and Gaza" "Forget us not!" says Mar Louis Sako in a message to Card Barbarin on the occasion of the march of solidarity with Iraqi Christians, held today in Lyon.
VATICAN
Pope: I am with the persecuted Christians of Mosul and the Middle East "May the God of peace inspire in all a genuine desire for dialogue and reconciliation. Violence is never defeated with violence. Violence is defeated with peace." At the Sunday Angelus Francis comments on the parable of the wheat and the weeds. God is "patient" He knows "the same weeds in the end, may become good wheat". But "at the time of the harvest, that is, of judgment, the reapers will execute the order of the master separating the weeds to be burned".

Dossier
by Giulio Aleni / (a cura di) Gianni Criveller
pp. 176
by Lazzarotto Angelo S.
pp. 528
by Bernardo Cervellera
pp. 240
Copyright © 2003 AsiaNews C.F. 00889190153 All rights reserved. Content on this site is made available for personal, non-commercial use only. You may not reproduce, republish, sell or otherwise distribute the content or any modified or altered versions of it without the express written permission of the editor. Photos on AsiaNews.it are largely taken from the internet and thus considered to be in the public domain. Anyone contrary to their publication need only contact the editorial office which will immediately proceed to remove the photos.