HTH -- Haiti Earthquake

May 2, 2011. Japanese parliament passes emergency reconstruction budget

SOURCE: Altegrity Risk International

The Japanese parliament passed a four trillion yen (US$49 billion) emergency budget on May 2nd for reconstruction following the March 11th earthquake and tsunami, reports indicated. The bill passed the lower house on April 30th and was approved unanimously by the upper house budget committee on May 2nd. The fund will help build new housing for tens of thousands of people left homeless by the disaster and will also support businesses affected by the tragedy. At least 14,704 people are known to have died in the disaster and another 10,969 remain missing. Officials said that further spending will follow in the months ahead and that the disaster could ultimately cost Japan some US$300 billion. Officials also diverted funds intended for pensions, child allowances, and slashing motorway tolls to the budget. The opposition backed the emergency package, although Prime Minister Naoto Kan's government is expected to face battles to secure future reconstruction funds through borrowing and tax hikes. Polls released on April 30th and May 1st showed that Kan faced mounting public criticism for his leadership in a crisis that led to power and supply shortages.

Officials continued working at the crippled Fukushima Daiichi nuclear power plant on May 2nd, pouring water into reactors to cool fuel rods, but struggling to contain contaminated waste water leaking from reactor buildings. On May 2nd, workers prepared to install an air purifier in the No.1 reactor building to reduce radioactivity and enable workers to gain access to the buildings to restore cooling systems.