Thursday, October 17, 2013

Taxpayers take note: State may need 31 years to recoup ¥5 trillion in Tepco redress aid | The Japan Times

It will take up to 31 years for the government to recover the ¥5 trillion in aid it may provide, just through this fiscal year, to Tokyo Electric Power Co. for compensation related to the Fukushima No. 1 nuclear plant disaster that started in 2011, a government agency said Wednesday.

Relevant interest payments to financial institutions through fiscal 2044 will cost the government an estimated ¥79.4 billion and will be effectively shouldered by taxpayers, the Board of Audit of Japan said.
The board’s findings marked the first time an estimate has been released on how long it will take for the government to recover the money provided through a state-backed bailout fund as well as the financial burden taxpayers will face in the process.

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Comment: "Taxpayer" definition: "Livestock" Sheep to be shorn and then sent to the slaughter as soon as the chickens come home to roost!

We're still in the shearing phase but, God only knows for how much longer. The Japanese debt is already at 250% of GDP. As each and every day passes, the "quickening" approaches. It looks like more and more chickens are coming home to roost. 

Looks like we're all going to be in for a rude awakening very soon!

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