Japan's government estimates it needs to raise about 3 trillion yen ($22.2 billion) in funds per year for a childcare policy Prime Minister Fumio Kishida has put forward to help reverse the declining birth rate, Jiji news agency reported on Thursday.
The government in March laid out a plan to boost child care over the coming three years, but the issue of financing the major spending package, such as tax hikes or debt issues, has been unresolved.
Under the planned financing scheme, Jiji reported, the government would expand the size of the funds gradually over the three years from fiscal 2024/25 and secure the necessary amount by the end of the policy period.
