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Japanese children may soon have a lot of money. Japan will give ¥100,000 ($880) to children under the age of 19. Around 20 million children will get the payment. Japan's Prime Minister said the money is part of a covid-19 stimulus package. He wants to help part-time workers and poorer families. The money will be given regardless of a family's financial status and number of children. It will cost around ¥2 trillion ($17.6 billion).
The plan has its critics. Many people are questioning it when Japan has so much debt - currently more than twice the size of its economy. The cash is available because of a surplus of funds from fiscal 2020. The critics say most children will not buy high-cost items, eat in upmarket restaurants or go on holiday. Most of the money will be put in savings accounts. One mother welcomed the plan because her children will buy new computers.
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