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Japan Scrambles to Get $930 to All Who Apply as Virus Spreads

  • Abe says handout costs to rise to more than 14 trillion yen
  • Economists question yen-for-yen effectiveness of blanket step
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Japanese Prime Minister Shinzo Abe’s sudden about-face on a cash handouts initiative indicates the government was no longer convinced the original plan was quick enough or big enough to support households as the country ramps up its state of emergency.

Abe apologized Friday for the confusion caused by his decision to switch to 100,000 yen ($930) handouts for all who seek them, from an earlier plan to target larger sums at households in need. He said the change was made based on the views of the public and ruling and opposition parties.