Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

Whether Tepco fails or not, itís taxpayersí tab (Japan)
Japan Times ^ | 10/20/2013 | Tomoko Otaki

Posted on 10/20/2013 11:49:59 PM PDT by TexGrill

It is impossible to put a price tag on all the pain and suffering inflicted on people as a result of the March 2011 meltdowns at Tokyo Electric Power Co.’s Fukushima No. 1 nuclear plant.

The ongoing crisis has created more than 140,000 wandering “nuclear refugees,” has stripped farmers and fishermen of their livelihoods, and continues to expose hundreds of plant workers to daily health risks as they battle to contain the radioactive water accumulating in leaky storage tanks and pipes and flowing into the ocean as groundwater, as well as other hazards.

The monetary cost alone is immeasurable because the crisis is far from over and the decontamination of areas hit by the radioactive fallout is way behind schedule. Just neutralizing the three reactors that suffered core meltdowns and the other reactor whose fuel pool looms as a major danger will take decades.

But one thing is clear: the final tab will be huge, and the public will end up paying for it, either through taxes or utility bills. While estimates vary, the total cost will probably top ¥10 trillion — or 20 percent of what the central government collects every year through taxes, experts say.

And last month’s pledge by Prime Minister Shinzo Abe before the International Olympic Committee in Buenos Aires that the government will take the lead in bringing the crisis to an end, somewhat, in time for the 2020 Tokyo Olympics could mean additional financial burdens placed on taxpayers.

(Excerpt) Read more at japantimes.co.jp ...


TOPICS: Business/Economy; Health/Medicine; Science; Society
KEYWORDS: japaneconomy
Global business tip
1 posted on 10/20/2013 11:50:00 PM PDT by TexGrill
[ Post Reply | Private Reply | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson