Japan’s third extra budget for stimulus may exceed 15 trillion yen: lawmaker

Hakubun Shimomura speaks during an interview with Reuters in Tokyo
FILE PHOTO: Hakubun Shimomura, the ruling Liberal Democratic Party’s policy research council chief, speaks during an interview with Reuters at the party’s headquarters in Tokyo, Japan October 9, 2020. Picture taken October 9, 2020. REUTERS/Izumi Nakagawa

November 11, 2020

TOKYO (Reuters) – Japan’s third extra budget for economic stimulus steps may need to be bigger than 15 trillion yen ($142.5 billion), a senior lawmaker in the ruling Liberal Democratic Party (LDP) said on Wednesday.

Hakubun Shimomura, the LDP’s policy research council chief, said the party wanted the extra budget to be compiled on Nov. 27, adding it may need to be “more than 10 trillion to 15 trillion yen”.

Cabinet ministers have said the size of the new package had not been decided yet, but ruling party lawmakers have called for 10 trillion to 30 trillion yen in new measures.

($1 = 105.2700 yen)

(Reporting by Yoshifumi Takemoto, writing by Kaori Kaneko; Editing by Chang-Ran Kim)

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