Politics | Oct 29

Japan unveils $200bn package to combat highest inflation in decades

TOKYO, Oct 29 (Nikkei) - Japan on Friday unveiled an economic package worth about $200 billion to cushion the highest inflation seen in decades, as households and some businesses feel the impact of a weak yen.

Announcing the plan, Prime Minister Fumio Kishida told reporters that his government "will protect people's livelihoods from high prices through effective and drastic easing measures," emphasizing the need to target energy prices, which he said are "the main cause of the price surge."

Kishida said his government has decided to take a top-down approach to brace against uncertainty and risks in the world economy. He also suggested it would be possible to use current conditions including the weak home currency to Japan's advantage, spurring opportunities for growth.

"We are preparing various policies under the notion that the economy must be strengthened in the face of the exchange situation," Kishida said. "It must remain strong even in the midst of fluctuating exchange rates."

The economic package is to be backed by a supplementary budget worth 29.1 trillion yen (about $200 billion). It will cover a wide range of measures to help lower prices of energy and food, while giving a fillip to promising fields like environmental and digital technology. ...continue reading

Source: ANNnewsCH

MORE Politics NEWS

In a move to combat declining birthrates, the Japanese government has revealed estimates for the upcoming "Child and Childcare Support Fund," which will be an additional charge on top of medical insurance.

Materials presented at a Cabinet Office meeting to discuss renewable energy inadvertently included a logo of a Chinese state-owned enterprise, sparking concern among opposition parties and officials about the possibility of foreign influence on Japan's energy policies.

In a significant policy shift, the government has decided to allow the export of the next-generation fighter jet, co-developed with Japan, to third countries.


Four men have been arrested by Tokyo police for allegedly recruiting women for prostitution in the United States via a website, promising encounters with affluent clients and high earnings.

For the first time in 73 years, Japan has unveiled a newly constructed whaling mother ship, equipped with drone technology for whaling operations in the Antarctic Sea.

The Liberal Democratic Party (LDP) in Nara Prefecture has disciplined its former Youth Division Chief following a controversial dance party incident.

Residents of Japan's oldest student dormitory, self-managed for over 100 years, are digging in as Kyoto University attempts to evict them from the premises.

A Japan Airlines flight en route from Melbourne to Narita Airport encountered sudden severe turbulence on April 1, causing injuries to several cabin crew, including a broken leg.