Connect with us

Hi, what are you looking for?

News

Families offered 1M yen to move out of Tokyo

JAPAN plans to boost financial support to households to move away from the capital to combat depopulation in other areas of the country, according to multiple local media reports.

Eligible families in the Tokyo metropolitan area will be able to receive 1 million yen ($7,700) per child starting in the fiscal year 2023 if they move to a disadvantaged local area — more than triple the 300,000 yen incentive already in place, the reports said.

The financial incentives highlight the challenges that Japan is facing with its low birth rate and long life expectancy. Rural areas have seen rapid depopulation as the young move away for opportunities in cities, leaving the localities dotted with empty homes and contending with dwindling tax revenue.

The increased support for children comes on top of a flat 1 million yen that families can get for moving. Under the new proposal, a household with two children could receive 3 million yen in support if they left the Tokyo area. Japan’s national government began the initiative to attract people to regional areas in 2019, allowing households who have lived in the central Tokyo metropolitan area for five years to apply for support funds if they move.

Families can continue to work remotely at their current job, work at a local small or medium sized business, or start a business in the local area — which would allow them to apply for even more financial support.

The scheme saw 1,184 household participants in 2021, compared to 71 the first year it launched, according to the Nikkei. — Bloomberg

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

TAIPEI/PRAGUE — Taiwan President Tsai Ing-wen held a telephone call with Czech President-elect Petr Pavel on Monday, a highly unusual move given the lack...

News

MANILA — The head of the Philippine nickel mining industry warned on Tuesday that the government’s plan to impose an up to 10% tax...

News

REUTERS/JOHANNES P. CHRISTO/FILE PHOTO SINGAPORE/WASHINGTON – The International Monetary Fund on Tuesday raised its 2023 global growth outlook slightly due to “surprisingly resilient” demand...

News

MVGS founding partners Attys. Eduardo A. Martinez, Manuel Z. Gonzalez and Mark O. Vergara By Angela Kiara S. Brillantes Despite the past years under...

News

Customers of Smart Communications, Inc. (Smart) and value brand TNT may go to SM Supermalls across the country to register their SIMs and comply...

News

Photo from pco.gov.ph Food is a basic human necessity, and everyone needs food to live. However, providing enough food security and, moreover, nutrition security...

You May Also Like

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.