Lower House Passes Second Supplementary Budget Bill To Tackle Inflation

Lower House passes second supplementary budget bill to tackle inflation

Japan's Lower House has passed a second supplementary budget for the current fiscal year to tackle soaring prices. The bill was sent to the Upper House.

The budget passed on Tuesday totals about 28.9 trillion yen, or about 209 billion dollars, including funding for measures to ease the burden of surging electricity and gas bills for households and companies.

Diet Passes Second Supplementary Budget

Diet passes second supplementary budget

Japanese lawmakers have passed a second supplementary budget to blunt the economic impact of the coronavirus pandemic.

The Upper House approved the bill on Friday. The package is worth a record 31.9 trillion yen, or almost 300 billion dollars.

Diet Approves Supplementary Budget

Diet approves supplementary budget

Japan's Diet has approved a supplementary budget for fiscal 2020 to fund an emergency economic package to deal with the impact of the coronavirus outbreak. It includes a cash handout of 100,000 yen, or 940 dollars, for all residents.

The Upper House passed the budget bill at its plenary session on Thursday following unanimous approval by the chamber's Budget Committee earlier in the day. The bill cleared the Lower House on Wednesday.