The government announced an estimate Monday that it will spend around ¥1.5 trillion on reconstruction projects for areas devastated by the March 11, 2011, earthquake and tsunami in the five-year period starting from fiscal 2021.
In a draft of its new basic policy for post-Great East Japan Earthquake reconstruction shown at an expert committee meeting, the government also noted that the Reconstruction Agency will not be disbanded until the end of fiscal 2030 and that special tax grants to local governments in afflicted areas will be maintained.
According to the draft, the government’s total spending for reconstruction projects is estimated to reach between ¥31 trillion and ¥31.5 trillion by fiscal 2020, which starts next April, and between ¥32.5 trillion and ¥33 trillion by fiscal 2025.
Necessary financial resources have already been secured mainly through tax hikes, the draft noted, adding that discussions will continue until next summer on reconstruction-related expenditures and income.
Fukushima Gov. Masao Uchibori, whose prefecture was also hit hard by the nuclear accident at a crippled Tokyo Electric Power Company Holdings Inc. plant, told reporters after the meeting that he plans to ask for details about the projects covered by the government estimates.