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HOME  > Past issues  > 2020 March 25 - 31  > JCP proposes direct bailout of individuals affected financially by new coronavirus
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2020 March 25 - 31 [ECONOMY]

JCP proposes direct bailout of individuals affected financially by new coronavirus

March 27, 2020

Japanese Communist Party Chair Shii Kazuo on March 26 held a press conference in the Diet building and released emergency proposals for direct financial aid to be provided to non-corporate employees who are in need of public assistance due to the governmental request to not leave homes following the COVID-19 outbreak.

The proposals aim at increasing the share of adjustment subsidies for workers covered by employment insurance from the current 67% to 100%, and granting income support to freelance workers and non-regular workers, who are not covered by employment insurance at the same rate as for eligible corporate employees.

The proposals state that non-collateral or non-interest loans should be provided to more owners of micro- small- and medium-scale enterprises who are suffering an economic loss caused directly or indirectly by the government and municipal request for workers to stay home, and so a loan of 20 trillion yen should be made to assist them. The proposals add that the government should reduce or waiver SME owners' taxes and social security insurance premiums and subsidize overall fixed costs needed to maintain their businesses such as for rent, land rent, utility bills, and various rental fees.

The proposals also include compensation for necessary expenditures associated with event cancellations and changes.

Shii noted that the U.K. government, as a compensatory measure for its stay-home request to the people, shoulders 80% of monthly wages up to 2,500 pounds per capita in order to maintain employment. He also cited the example of Germany, saying that the German government distributes a maximum of 15,000 Euro for three months to artists and creators who hire no more than ten staff.

Shii said, "The central and local governments are asking us to stay home and are basically saying, 'expected losses are at you own expenses'. This stance cannot ensure the effectiveness of the prevention of COVID-19 infections. The government should provide income security."

Past related articles:
> Abe reluctant to take measures to relieve performing artists’ economic distress due to corona crisis [March 24, 2020]
> Unions and organizations for freelance workers call for gov’t financial assistance amid coronavirus crisis [March 13 & 14, 2020]
> JCP makes urgent proposal on economic crisis pertaining to coronavirus outbreak [March 13, 2020]
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