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Apr 3
Japan Prepares ¥ 230 Billion To Help the nuclear Crisis
Tuesday, 28 June 2011 05:34

Government of Japan is considering about 230 billion yen ($ 2.8 billion) to provide assistance to the Tokyo Electric Power Co. and the monitoring of the radiation in the supplementary budget planned.

PRIME MINISTER Naoto Kan has not released details of an additional ¥ 2 trillion budget that would require parliamentary approval. Officials will implement a ¥ 1.8 trillion tax revenue left over from the last fiscal year to help fund the package.

A budget will be devoted to the nuclear crisis, still unresolved for more than three months after the earthquake and tsunami hit Japan as well as the destruction of Tokyo Electric Fukushima Dai-Ichi, reactor North of Tokyo.

This month's Cabinet passed a law to create a public entity to help companies, known as Tepco, pay reparations to the nuclear crisis worst since Chernobyl. The budget would set aside ¥ 1.2 trillion to help with compensation for the damage caused by nuclear reactor catastrophe Dai-Ichi.

According to the Japan Center for Economic Research, as well as other budget as much as ¥ 78 miliyar will be used for health care costs of people who are exposed to radiation or live near the damaged reactor.

Meanwhile, the cost of dismantling the plant can reach 20 Fukushima trillion yen, and compensation for households in the evacuation zone 20 kilometres might be about ¥ 6.3 trillion over 10 years.

The draft budget also allocated about 80 billion yen to help indebted households before the Quake and now need to borrow more for improvement. Additional funds will be aimed at small companies affected by the natural disasters that killed more than 23,000 people dead or missing

The cost of repairing damage to buildings, roads and infrastructure will be approximately ¥ 16.9 trillion.