Noda orders new Y880 billion stimulus
News On Japan via Japan Times -- Nov 28
The Cabinet of Prime Minister Yoshihiko Noda will approve an ¥880 billion emergency plan Friday to boost the stagnant economy, forging the second extra spending package in two months, officials said Tuesday.
Since the Lower House has been dissolved for a general election, the move by the government to compile stimulus measures is considered a rarity and one that opposition parties are expected to criticize as being a blatant attempt by Noda's Democratic Party of Japan to attract voters.
The government will finance the package with part of the ¥940 billion in remaining reserve funds under the fiscal 2012 budget and will not issue any new debt, the officials said.
Source: Japan Times
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