Well it would free up a lot of resources that could be redirected to free child care.

but it seems more like people are being over worked and underpaid. They just can't afford to spend time or money on kids

No. This would have lots of weird impacts. In the countryside, a lot of employees are quite old. A lot also do childcare for their grandkids at least some of the time. A lot of farmers would be gone as well. There's also a lot of paperwork that suddenly needs to be done grinding a lot of government to a halt. A lot of businesses as well since, from what I've seen form friends' older relatives dying, a lot of people do NOT have their shit in order and Japan has lots of small businesses and sole proprietorships.

Depending upon the wording of the policies and suicide, life insurance companies might have big issues or families might have huge monetary issues. I guess we can pretend they don't all die at once and clog up the whole morgue and funeral infrastructure which is a whole other thing.

The religious and political implications could be interesting. Bhuddist gravesites in Japan for family graves tend to be very expensive to buy and maintain.

I could actually keep going for a while, but the short version is that, at least in the short term, it would likely do more harm than good. This says nothing of the actual emotional impact on people.