April support still not fully spent as new dose readied

There is growing public frustration over how long it is taking for households to receive government support funds. Over 40% still haven’t received the ¥100,000 windfall promised by the government in April and disapproval with PM Abe’s Cabinet has reached a record high. Speculation is growing that PM Abe will respond by calling a snap election to coincide with a third round of fiscal stimulus being readied for the Autumn. The prospect of yet more stimulus bolsters our view that Japan’s economy will recover relatively strongly once the threat of the virus fades.