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Japan: Gov't Eyes Emergency Y10 Tril Tax Increase to Fund Quake Reconstruction |
| Source: |
japantoday.com |
| Source Date: |
Wednesday, July 27, 2011 |
| Focus: |
ICT for MDGs
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| Country: |
Japan |
| Created: |
Aug 02, 2011 |
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Prime Minister Naoto Kan said Tuesday that the government will carry out an emergency tax increase worth 10.3 trillion yen over the next five years to finance recovery efforts in the quake and tsunami-hit prefectures.
Reconstruction Minister Tatsuo Hirano told a news conference that the government will spend up to 19 trillion yen over the next 5-10 years. It will finance the reconstruction efforts by issuing deficit-covering bonds, he said. Hirano said he hopes to present a specific plan by July 31.
The Diet on Monday enacted a 1,998.8 billion yen extra budget to pay for rebuilding. It was the second extra budget approved, following an earlier 4 trillion yen package passed by the Diet in May.
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Japan: Gov't Eyes Emergency Y10 Tril Tax Increase to Fund Quake Reconstruction Prime Minister Naoto Kan said Tuesday that the government will carry out an emergency tax increase worth 10.3 trillion yen over the next five years to finance recovery efforts in the quake and tsunami-hit prefectures
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