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Ministry told to redirect subsidies for stalled nuclear reactor projects via AJW

With the nuclear industry still reeling from the effects of the March 11 earthquake, government auditors told the industry ministry to redirect 65.7 billion yen ($857 million) in reserve set aside for subsidies for planned nuclear reactors into more productive projects.

The Board of Audit has concluded that about 90 percent of the 73.1 billion yen in reserve is not necessary because 11 of the 14 new reactor projects have been put on hold.

More than 10 billion yen has been set aside almost every fiscal year for subsidies designed to persuade municipalities to accept new reactors.

The amount outstanding had been around 120 billion yen until part of the reserve was used for post-quake reconstruction measures in a supplementary budget.

The subsidies have ranged between 5 billion yen and 13 billion yen a year since fiscal 2006. The money was paid to 10 municipalities where the 14 reactors are planned and their neighboring municipalities.

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