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Tuesday, 26th January 2010
In Events In Japan,

Japanese House of Representatives pass extra budget

The Japanese House of Representatives has passed additions to the country's budget, with an extra 7.2 trillion yen now added to the money pot.

After being passed by the lower house, the extra money bill will have to go through the House of Councilors, which represents the upper house of the parliament.

The extra cash is aimed at helping stimulate the ailing Japanese economy, which is still suffering from the impact of the economic downturn and linked deflation and reduced demand.

Prime minister Hatoyama is hopeful that the new bill will be passed by the upper house, where his Democratic Party of Japan coalition has a majority holding.

As well as more money, the new Budget additions include measures to help small firms secure much needed loans, as well as incentives aimed at making the public buy more eco-friendly products, a market with many firms in Japan are making moves into.

Written by Mark Smith.

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