The ruling Liberal Democratic Party of Japan has promised to provide 20,000 yen (approximately 190,000 won) per person as a pledge for the House of Councilors election to be held on the 28th of next month. There is also a plan to give 40,000 yen to minor children, meaning a family of four consisting of two parents and two minor children could receive about 1.14 million won.
According to NHK and Yomiuri Shimbun, Prime Minister Shigeru Ishiba of Japan (Liberal Democratic Party Chairman) noted on the 13th that he instructed to reflect the plan to give 20,000 yen in cash per person in the party's election pledges as part of measures against high prices. Prime Minister Ishiba discussed election pledges with party executives, including Hiroshi Moriama, the Secretary-General of the Liberal Democratic Party.
The opposition parties are demanding a tax cut on consumption tax, but Prime Minister Ishiba argued that this approach takes time and expense to implement and unfairly benefits high-income individuals.
The ruling coalition of the Liberal Democratic Party and Gong Myoung Party had already been considering a plan to provide 20,000 yen per person and an additional 20,000 yen for low-income households that do not pay resident tax. This time, they included children under 18 years old in the additional benefits.
Prime Minister Ishiba said, "We will look at fiscal trends and secure funding responsibly," adding, "I have instructed to avoid relying on government bonds for deficits." He also explained that the required budget will be in the mid-3 trillion yen (approximately 28.5 trillion won) range.
Previously, the Liberal Democratic Party and Gong Myoung Party had considered a plan to provide support of about 50,000 yen to the entire population last month but postponed it due to backlash against it being seen as a "populist policy." This time, it is expected to be realized as Prime Minister Ishiba has taken the initiative, provided the ruling party does not suffer a significant defeat in the House of Councilors election.