TOKYO , Japan ( CNN ) -- Yoshiko Sato would love to give her only son a brother or a sister . But money struggles and Japan 's cost of living have pushed the mother to wait . Japanese mother Yoshiko Sato says the proposal `` would help us with a second child . '' A proposal to pay parents about $ 3,400 a year per child has got her thinking seriously about expanding her family . The cash for kids plan is the brainchild of the country 's new ruling Democratic Party of Japan , which came into power during the elections this week . The proposal has garnered supporters and critics . `` It would help us with a second child , '' Sato said . The proposal would pay families the money every year until the child reached high school . It is an effort to boost Japan 's birthrate , which is one of the lowest in the world and is a major drag on the country 's economy . It is compounded by Japan 's rapidly aging population . About a quarter of the country 's population is older than 65 , according to government figures . By 2050 , that number is expected to reach 40 percent . Watch as some parents ponder procreation » . Nevertheless , the money for babies proposal has its critics . Economist Yuri Okina said she wonders where Japan 's government is going to come up with the money to fund it . The plan is not an instant fix , she said . What 's needed , Okina said , is a way for women to remain in the work force after having children instead of being forced out because of lack of child care . `` We have to make it normal in Japan for a woman to raise a child and have a career , '' Okina said . Critics also have said the plan would not fix a significant problem for working families -- the lack of day care centers . About 40,000 children are on waiting lists for day care , according to government figures . These facilities ' scarcity is problematic for mothers such as Hiromi Espineli . `` Going back to work would be tough , '' she said , `` since there are so few day care centers . ''
New ruling party proposes to pay parents about $ 3,400 a year per child . Democratic Party of Japan came to power this week in elections . Plan is an effort to boost Japan 's birthrate , one of the world 's lowest . Critics say plan would n't fix problem of too few day care centers .