Japan's Kishida announces $113-billion package to combat inflation pain
© Reuters. FILE PHOTO: Japanese Prime Minister Fumio Kishida poses during a photo session with his new cabinet members at the prime minister's official residence in Tokyo, Japan, September 13, 2023. Zhang Xiaoyu/Pool via REUTERSTOKYO - Japanese Prime Minister Fumio Kishida said on Thursday the government will spend over 17 trillion yen in a package of measures to cushion the economic blow from rising inflation, which will include tax cuts.
Reuters reported on Wednesday the government is considering spending over 17 trillion yen for the package, which will include temporary cuts to income and residential taxes as well as subsidies to curb gasoline and utility bills. The rising cost of living is partly blamed for pushing down Kishida's approval ratings, piling pressure on the prime minister to take steps to ease the pain on households.
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