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Gist of Japan’s stimulus package to mitigate coronavirus impact

  • April 7, 2020
  • , Kyodo News , 6:19 p.m.
  • English Press

TOKYO — The following is the gist of the emergency economic package approved by Prime Minister Shinzo Abe’s Cabinet on Tuesday.

 

Under the 108 trillion yen ($990 billion) package, the government:

 

— provides 300,000 yen in cash for households whose incomes have more than halved or plunged to a resident tax-exempted level.

 

— gives families receiving child allowances an additional 10,000 yen per child.

 

— provides subsidies of up to 2 million yen to small business owners and medium-sized companies whose earnings have dropped by half or more.

 

— fully exempts firms whose sales have fallen over 50 percent from paying taxes such as consumption and property taxes.

 

— triples the national stockpile of the antivirus drug Avigan, seen as effective in treating COVID-19, to treat two million people.

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