As part of measures against rising prices, the government will introduce a system to give points to households that have saved a certain amount of electricity and a mechanism to support part of the fertilizer price for farmers. We are adjusting to spend about 260 billion yen from the reserve fund for the fiscal year.
The government will introduce a system to pay 2000 yen worth of points to households registered in power saving programs run by electric power companies, etc., in order to respond to soaring electricity prices and tight supply and demand of electricity.
We plan to spend about 180 billion yen from this year's reserve fund as expenses for these efforts.
In addition, the government has created a mechanism to compensate 70% of the increase in fertilizer prices for farmers who have reduced the amount of chemical fertilizers used amid soaring raw material prices for fertilizers, to reduce the production cost of all agricultural products. We aim to reduce the price by one.
We are planning to spend about 80 billion yen as a support measure for such farmers.
As a result, the total amount to be spent from this year's reserve fund will be about 260 billion yen, and the government plans to formally decide it at the Cabinet meeting next week.