The purpose of the measure is to give low and middle income households cash benefits for their living expenses. Quick decision and action is needed. It is said that it takes time to legislate for setting an income cap on cash distribution to individual households. It would be good if high-income people voluntarily refrain from claiming the cash handouts.
The scheme got a very good start. It has already got 5 applicants.
The system helps big businesses give medium and small enterprises (SMEs) financial and technical assistance to reduce their CO2 emission activities. The Keidanren Voluntary Action Plan on the Environment has achieved results, but without SMEs in the mechanism. The new scheme is expected to give Japanese industries more efficiency in tackling global warming.
The financial turmoil has spread worldwide and pushed down the real economy of developed countries. It is obvious that emerging economies as well as countries rich in natural resources are not out of the picture. The situation requires that they discuss with G8 members how to take joint actions to avoid global recession and to stabilize the world economy.