AMPONTAN

Japan from the inside out

Ichigen Koji (4)

Posted by ampontan on Monday, May 23, 2011

一言居士
– A person who has something to say about everything

“JPY 12 trillion in government bonds has already been issued this fiscal year. If we were to fully use the JPY 30 trillion framework for Bank of Japan bond purchases in this year’s budget, it would create a revenue source of JPY 18 trillion. This is not a fiscal liability. The funds could be quickly used for earthquake reconstruction and for dealing with the nuclear power plant disaster. I do not understand what the Kan administration and the Bank of Japan are thinking when they oppose it and offer such nonsensical reasons as confidence in the currency…

“Those who argue for a tax increase are very displeased when you talk about providing JPY 40 trillion in revenue by having the BOJ underwrite JPY 18 trillion in reconstruction bonds, and using JPY 10 trillion from the government debt consolidation fund, JPY 5 trillion from labor insurance, and other sources for the rest.”

– Takahashi Yoichi, author, university professor, and former Finance Ministry bureaucrat

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