Japan’s Prime Minister Fumio Kishida says he is preparing to take bold economic measures, including an income tax cut for households hit by inflation and tax breaks for companies to promote investment.
FILE - Japan's Prime Minister Fumio Kishida speaks at the Atlantic Council Global Citizen Awards, Sept. 20, 2023, in New York. Kishida on Monday, Sept. 25, unveiled the gist of his new economic package that focuses on wage increases and measures to soften the impact of rising prices. Support for his Cabinet has dwindled despite the latest reshuffle less than two weeks ago.
He said he is determined to help people ride out the impact of soaring prices for food, utilities and other costs that have exceeded their salary increases, by implementing income tax cuts. He also pledged to introduce corporate tax incentives to promote wage increases, investment and optimization. His Liberal Democratic Party secured a parliamentary seat representing Nagasaki in Sunday's vote but lost in a combined district in Kochi and Tokushima to a candidate backed by the main opposition Constitutional Democratic Party of Japan.
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