On 12 June, Japan's Diet parliament, approved a second record budget of almost 32 trillion yen (€262 billion) to ‘improve the government's measures designed to protect lives and livelihoods from Covid-19 and to accelerate economic recovery.’ Included in the budget’s categories are several provisions concerning support for maintaining employment, which although largely intended for enterprises also include direct payments to employees.
This second round of extraordinary expenditure comes just six weeks after a first tranche of JPY 25,690 billion (€212 billion) was released, and forms part of the major public spending plan agreed in April, totaling JPY 117,100 billion (€964 billion), or 21% of Japan’s GNP, 75% of which is being earmarked for this second chapter of the emergency package entitled, ‘Protecting Employment and Ensuring Business Sustainability.’
The new measures aimed at protecting employment and maintaining...
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