Japan's parliament convenes an extraordinary session, with Prime Minister Fumio Kishida's government aiming to ensure the passage of a planned supplementary budget to fund a new economic package to tackle rising prices.
Prime Minister Fumio Kishida will instruct ruling party executives to consider cutting income tax as a temporary measure to achieve his goal of redistribution, sources with knowledge of the plan say.
Prime Minister Fumio Kishida instructs his Cabinet ministers to compile a fresh economic package by the end of October, deploying "all possible tools" to mitigate the pain of inflation and support the economy with more pay hikes and investment.
Prime Minister Fumio Kishida says his government's new economic package will seek to navigate the economy through a cost-of-living crisis to achieve long-term growth as part of his plans to redistribute wealth in Japan with pay hikes and other similar measures.
Japan s Cabinet on Nov. 8 will approve an extra budget for the current fiscal year to spend 29.1 trillion yen ($199 billion) on an economic package designed to mitigate the pain on households and businesses of rising prices, exacerbated by a weaker yen.