12,000 yen may be handed out under stimulus

Written by Writer on Saturday, November 8th, 2008

12,000 yen may be handed out under stimulus

Under the government’s new economic stimulus package, it has been proposed that 12,000 yen be distributed to each citizen and permanent resident, with an additional 8,000 yen to those aged 18 or younger and 65 or older, as cash benefits, The Yomiuri Shimbun learned Friday.

The plan would distribute a total of 2 trillion yen.

Early next week the government and the ruling coalition of the Liberal Democratic Party and New Komeito will decide the sum and other conditions regarding the cash benefits, such as setting an income cap for households to qualify for the benefits and how the benefits will be distributed.

New Komeito Policy Research Council Chairman Natsuo Yamaguchi suggested the idea of distributing 12,000 yen per person Friday when he met Deputy Chairman of the LDP Policy Research Council Hiroyuki Sonoda.

Yamaguchi’s idea also aims at distributing additional funds to households with elderly people and children. If his suggestion were implemented, a couple with two children aged 18 or younger would be given 64,000 yen in total.

Foreigners with permanent residency status also will be subject to the benefits, according to Yamaguchi’s proposal.

The benefits would be distributed as vouchers redeemable for cash at local government offices, according to one proposal.
(Nov. 8, 2008)