Breaking News

Japanese Businesses To Pay For Asbestos Funding

 
 

September 11th, 2006

The Japanese government has made a move that will require all registered businesses in Japan to pay over seven billion yen a year for a period of four years starting in 2007. The businesses will be required to pay the annual sum as a combined amount between them to help funding for asbestos victims and families of those killed through asbestos related diseases.

Over two and a half million businesses will be involved, most of which have no connection to asbestos, and as a result of the move worker’s compensation insurance will be raised.

The funding raised will help to fund medical costs and compensation payments for those affected by asbestos through living near to asbestos plants.

Around seventy five billion yen will be needed by 2010 to cover the necessary funding according to government officials, a good chunk of which will be used to cover applications for redress that were filed in 2005 and 2006.

 
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