March 27, 2011
Facing the unprecedented postwar crisis following the massive earthquake, tsunami, and the subsequent nuclear plant accident, the government estimates that the amount of damage at present totals about 16-25 trillion yen and that the amount will increase further.
However, the FY2011 budget draft maintains the following wasteful programs.
2 trillion yen in tax breaks for large corporations and the wealthy
The FY2011 draft budget cuts the corporate tax rate by 5% and extends for another two years the ongoing preferential tax breaks on income from stocks. This will result in two trillion yen in tax cuts for large corporations and the wealthy.
In the Lower House finance committee meeting on March 25, the Japanese Communist Party argued that the continuing tax cuts for large corporations and the rich be canceled and for the money to be used to fund reconstruction from the disaster. Finance Minister Noda Yoshihiko responded by saying that the government will discuss the JCP proposal.
550 billion yen for ‘international strategic ports’
The disaster caused major damage to 14 key ports in eastern Japan. It is estimated that the repair work will cost more than one trillion yen.
However, the government is going to spend 550 billion yen to develop new mega ports by 2020 under its “international strategy.” The FY 2011 draft budget earmarks 32.7 billion yen for this project.
The JCP in the House of Representatives Land and Transport Committee urged the government to use this budget for disaster relief and restoration.
318.9 billion yen for U.S. forces
The FY2011 budget incorporates 318.9 billion yen for the stationing of the U.S. forces in Japan, comprising a 185.8 billion yen “sympathy” budget, 123 billion yen for the U.S. military realignment, and 10.1 billion yen for base relocation and training of the U.S. forces in Okinawa.
The number of houses damaged is estimated to be 26,513 (as at March 26), including those totally or partially destroyed, and those washed away. The present relief law can provide only three million yen per house, even if it is completely destroyed.
If the budget related to the U.S. forces in the FY2011 draft budget is allocated to compensation and repair of the houses damaged by the disaster, 12 million yen will be available to rebuild wholly or partly destroyed houses.
32 billion yen subsidy for political parties
The FY2011 draft budget earmarks 32 billion yen in subsidies to political parties with the exception of the JCP which refused to accept the subsidy. As of January, the nine other parties applied to receive the subsidies.
The subsidy to political parties should be abolished and the money should be used for relief and reconstruction.
However, the FY2011 budget draft maintains the following wasteful programs.
2 trillion yen in tax breaks for large corporations and the wealthy
The FY2011 draft budget cuts the corporate tax rate by 5% and extends for another two years the ongoing preferential tax breaks on income from stocks. This will result in two trillion yen in tax cuts for large corporations and the wealthy.
In the Lower House finance committee meeting on March 25, the Japanese Communist Party argued that the continuing tax cuts for large corporations and the rich be canceled and for the money to be used to fund reconstruction from the disaster. Finance Minister Noda Yoshihiko responded by saying that the government will discuss the JCP proposal.
550 billion yen for ‘international strategic ports’
The disaster caused major damage to 14 key ports in eastern Japan. It is estimated that the repair work will cost more than one trillion yen.
However, the government is going to spend 550 billion yen to develop new mega ports by 2020 under its “international strategy.” The FY 2011 draft budget earmarks 32.7 billion yen for this project.
The JCP in the House of Representatives Land and Transport Committee urged the government to use this budget for disaster relief and restoration.
318.9 billion yen for U.S. forces
The FY2011 budget incorporates 318.9 billion yen for the stationing of the U.S. forces in Japan, comprising a 185.8 billion yen “sympathy” budget, 123 billion yen for the U.S. military realignment, and 10.1 billion yen for base relocation and training of the U.S. forces in Okinawa.
The number of houses damaged is estimated to be 26,513 (as at March 26), including those totally or partially destroyed, and those washed away. The present relief law can provide only three million yen per house, even if it is completely destroyed.
If the budget related to the U.S. forces in the FY2011 draft budget is allocated to compensation and repair of the houses damaged by the disaster, 12 million yen will be available to rebuild wholly or partly destroyed houses.
32 billion yen subsidy for political parties
The FY2011 draft budget earmarks 32 billion yen in subsidies to political parties with the exception of the JCP which refused to accept the subsidy. As of January, the nine other parties applied to receive the subsidies.
The subsidy to political parties should be abolished and the money should be used for relief and reconstruction.
