Tsunami help budget passed
Source: Agencies |
May 3, 2011, Tuesday
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JAPAN'S parliament passed a 4 trillion yen (US$48 billion) tsunami recovery budget yesterday, but it will cover only a fraction of the cost of what was the most expensive disaster ever.
Mounting frustrations over the government's response and a still unfolding nuclear crisis, meanwhile, are threatening to topple the country's increasingly unpopular prime minister as more budgetary battles lie ahead.
The supplementary budget bill for the fiscal 2011 year that started in April was unanimously approved by parliament's upper house budget committee yesterday morning and was made into law at the chamber's plenary session later in the day. The more powerful lower house had approved the plan on Saturday.
The budget will cover the building of new houses for the more than 100,000 people who remain without proper shelter, the massive undertaking of clearing debris and rubble, reconstruction of fishing grounds, and support for disaster-hit businesses and their employers.
"I'm anxious to get the budget plan approved as quickly as possible so that we can reimburse funds for the projects immediately," Finance Minister Yoshihiko Noda said at the budget committee meeting.
Further outlays are expected to follow in the months ahead, he said.
The March 11 magnitude-9.0 earthquake and ensuing tsunami, which wiped out large swaths of Japan's northeastern coastline, are believed to have caused an estimated US$300 billion in damage, making it the most expensive disaster ever. More than 26,000 people are dead or missing.
Though the new budget passed relatively smoothly, Prime Minister Naoto Kan's government is coming under growing pressure for its handling of the crisis and can expect greater opposition from rival parties in future budget negotiations.
"We support this budget plan just because of the urgent need to fund reconstruction projects," said Mikishi Daimon, an opposition lawmaker from the Communist Party.
Opposition leaders have called on Kan - who was already unpopular before the disaster - to step down for his handling of the aftermath, particularly his response to the subsequent crisis at the Fukushima Dai-ichi nuclear power plant.
The budget does not include any government support for the massive compensation liability of the nuclear plant's operator, Tokyo Electric Power Co.
Mounting frustrations over the government's response and a still unfolding nuclear crisis, meanwhile, are threatening to topple the country's increasingly unpopular prime minister as more budgetary battles lie ahead.
The supplementary budget bill for the fiscal 2011 year that started in April was unanimously approved by parliament's upper house budget committee yesterday morning and was made into law at the chamber's plenary session later in the day. The more powerful lower house had approved the plan on Saturday.
The budget will cover the building of new houses for the more than 100,000 people who remain without proper shelter, the massive undertaking of clearing debris and rubble, reconstruction of fishing grounds, and support for disaster-hit businesses and their employers.
"I'm anxious to get the budget plan approved as quickly as possible so that we can reimburse funds for the projects immediately," Finance Minister Yoshihiko Noda said at the budget committee meeting.
Further outlays are expected to follow in the months ahead, he said.
The March 11 magnitude-9.0 earthquake and ensuing tsunami, which wiped out large swaths of Japan's northeastern coastline, are believed to have caused an estimated US$300 billion in damage, making it the most expensive disaster ever. More than 26,000 people are dead or missing.
Though the new budget passed relatively smoothly, Prime Minister Naoto Kan's government is coming under growing pressure for its handling of the crisis and can expect greater opposition from rival parties in future budget negotiations.
"We support this budget plan just because of the urgent need to fund reconstruction projects," said Mikishi Daimon, an opposition lawmaker from the Communist Party.
Opposition leaders have called on Kan - who was already unpopular before the disaster - to step down for his handling of the aftermath, particularly his response to the subsequent crisis at the Fukushima Dai-ichi nuclear power plant.
The budget does not include any government support for the massive compensation liability of the nuclear plant's operator, Tokyo Electric Power Co.
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