Supplementary budget draft submitted to the Diet

The government on Monday submitted to the Diet a draft of the fiscal 2021 supplementary budget that includes the new economic stimulus package.

At about ¥35.99 trillion, it marks the largest-ever general account expenditures as a supplementary budget. The government and ruling parties aim to approve it by the end of this month.

Of the amount, about ¥31.56 trillion is earmarked for costs to implement new economic stimulus measures. About ¥18.61 trillion will go toward measures to prevent infections of the novel coronavirus and about ¥8.25 trillion to fund the launch of a new form of capitalism agenda being pushed by Prime Minister Fumio Kishida.

Other budget items include ¥100,000 stipends to residents 18 and under; aid to small- and mid-sized businesses financially affected by the pandemic; subsidies to secure domestic production bases for advanced semiconductors; and raising wages of day care workers, nursing home staff and hospital nurses.