Japanese kids may soon have smiles on their faces and money in their pockets. As part of a Covid-19-related incentive package, the Japanese government is planning to provide ,000 100,000 ($ 880) for all children under the age of 19.
About 20 million children, from newborns to 18-year-olds, will receive a timely payment. The initiative is part of an election promise made by the newly elected Prime Minister of Japan. During the campaign, he pledged to help “people in need”, such as part-time workers and families with young children.
Officials say the money will be given regardless of the financial situation of a child’s family. All children in each family will receive cash. The plan is expected to cost around 2 2 trillion ($ 17.6 billion).
The stimulus package is not without criticism. Many people have reservations about spending so much money when Japan is burdened with so much debt. The country’s debt is currently more than double the size of its economy. Government sources argue that the money is available for the pandemic stimulus due to a surplus of funds from fiscal year 2020.
Skeptics are questioning the logic of the plan. They said most recipients would not go out to buy high-cost items, eat at expensive restaurants or take local vacations. It is anticipated that a large portion of the money will end up in savings accounts. However, mother of three Yuki Ono welcomed the plan. She said her children would benefit because they would buy new computers.
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