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LDP wants measures to curb oil price surge to continue

  • April 11, 2022
  • , Jiji Press , 9:26 p.m.
  • English Press

Tokyo, April 11 (Jiji Press)–Japan’s ruling Liberal Democratic Party is set to call on the government to retain the existing measures against soaring crude oil prices in May and beyond, a draft proposal showed Monday.

 

The LDP is also going to demand that support for needy people be strengthened, according to the draft proposal for a comprehensive emergency package to be compiled by the government by the end of this month.

 

The draft, expected to be adopted Thursday, suggests that the party will request an increase in the government subsidies of up to 25 yen per liter currently given to oil wholesalers if pump prices keep rising.

 

Meanwhile, it does not mention a gasoline tax reduction called on by the LDP itself, its coalition partner, Komeito, and the opposition Democratic Party for the People.

 

As for enhanced support including cash handout for needy people, the draft proposes no specific amount, although LDP members in the House of Councillors, the upper chamber of Japan’s parliament, are calling for providing 100,000 yen per person.

 

The LDP may advise that around half of the government’s 5.5-trillion-yen budget reserve funds for fiscal 2022, which started this month, be used to cover the emergency measures while Komeito is requesting the compilation of an extra budget for the current fiscal year, informed sources said.

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