Japan new desperate try to restore its economy

[TOKYO] Japan's measures for encouraging the spread of cashless payments will likely need more funding beyond the end of March and could be extended as part of a planned government stimulus package.

The International Monetary Fund recommended on Monday that Japan consider lengthening the time frame of its measures to support consumption after an October sales tax increase to support the economy, citing the cashless-payment reward programme among the measures.

The programme is aimed at supporting consumption in the wake of the tax hike and increasing efficiency at small and medium-sized retailers. It provides subsidies for installing cashless-payment equipment and 5 per cent rebates for consumers making cashless purchases at registered businesses through the end of June.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

The cashless society from an ethical point of view

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