Proposed supplementary budget for recovery support for typhoons Consider adding additional economic measures October 16th 5:40
Due to the huge damage caused by Typhoon No. 19, the government expects huge costs for recovery and reconstruction, so it is planned to formulate a supplementary budget plan for this fiscal year, keeping in mind the increase in the consumption tax rate and global economic trends. We will also consider incorporating additional economic measures into
Prime Minister Abe said at the meeting of the Emergency Countermeasures Headquarters on the 15th, “It is important to create a system that allows disaster-stricken local governments to work on recovery with peace of mind.” At the same time, he showed the idea of considering a supplementary budget plan as needed.
From the government and the ruling party, the damage is widespread, and huge costs are expected for restoration and reconstruction, such as repairing damaged riverbanks and repairing rivers and roads, and providing support for disaster victims. For this reason, there are a lot of opinions that “reserves are not enough”.
For this reason, the government is planning to make a supplementary budget proposal by the end of the year and submit it to the beginning of next year's regular parliament next year.
With regard to the draft supplementary budget, there is a move to prepare for the prompt launch of additional economic measures within the government, taking into account the increase in the consumption tax rate and the growing global economy, and within the ruling party, There are also calls for incorporating domestic measures such as agricultural support following the entry into force of the new trade agreement between Japan and the United States.
The government will also consider incorporating such economic measures in the supplementary budget proposal while determining the prospects for securing financial resources.