Japan's $88 billion extra budget clears lower house

Nov 25, 2023 | News On Japan

TOKYO - Japan passed on Friday an extra budget worth around 13.1 trillion yen ($88 billion) aimed at helping households cope with the rising cost of living and corporations boost domestic investment, even amid concerns over the country's worsening finances.

The government plans to issue about 8.9 trillion yen in new bonds in the extra budget to fund an economic package featuring temporary cuts to income tax, payouts to low-income families and subsidies to curb gasoline and utility bills.

The government will also allocate roughly 2 trillion yen to support efforts to boost its chip industry, marking the latest move by the Asian nation to reclaim its past glory in the critical sector.

The additional issuance would bring total Japanese government bond (JGB) issuance for this fiscal year to around 44.5 trillion yen.

The extra budget bill will be sent to the upper house for further debate and final approval as early as next week. ...continue reading

Source: ANNnewsCH

Typhoon No. 25 Threatens Kanto and Izu Islands

Large Typhoon No. 25 was moving northwest over waters south of Japan at 3 p.m. on September 19 and is forecast to strengthen as it approaches Kanto and the Izu Islands from September 20 through September 21, bringing the risk of torrential rain, violent winds and further damage in areas still recovering from last year's typhoon.

Bear Sighting Raises Alarm at Popular Tokyo Hiking Spot

A black bear has been spotted near one of the most popular hiking trails on Mount Takao in western Tokyo, prompting authorities to urge visitors to take precautions ahead of the five-day Silver Week holiday and the approaching autumn foliage season.

Starbucks Considers Selling Majority Stake in Japan Business

Starbucks is considering selling a majority stake in its Japanese business, potentially valued at as much as $3 billion, or about 470 billion yen, as the U.S. coffee chain seeks to concentrate management resources on its struggling North American operations.

Halloween Jumbo Lottery Goes on Sale With 400 Million Yen Top Prize

Japan's Halloween Jumbo Lottery went on sale nationwide on September 16, offering a combined top payout of 400 million yen for the first prize and its adjacent-number prizes.

Shinkansen Introduces New Luxury Private Compartment

A new top-tier "Supreme Class" offering fully private compartments above the level of Green Car service will debut on the Tokaido and Sanyo Shinkansen on October 1, with passengers able to experience the new seating at a demonstration booth at Shin-Osaka Station.

MEDIA CHANNELS

MORE Politics NEWS

Takaichi Reshuffles Cabinet To Steady Markets And Party

Prime Minister Sanae Takaichi launched her first cabinet reshuffle since taking office, keeping core economic, foreign-policy and security ministers in place while replacing a broad group of other ministers in an attempt to stabilize her government before a difficult autumn of tax, budget, monetary policy and diplomatic battles.

Japan Confirms Global Hawk Drone Crashed Off Tottori

Japan's Air Self-Defense Force has concluded that a large Global Hawk unmanned reconnaissance aircraft that lost communication off Tottori Prefecture on September 15 crashed into the sea.

Takaichi Retains Core LDP Team

Prime Minister Sanae Takaichi launched a new Liberal Democratic Party executive team on September 16, retaining most of the party’s senior leadership while pledging to unite the government and ruling party to overcome a difficult political and economic environment.

Global Hawk Reconnaissance Drone Missing Off Tottori

A Japan Air Self-Defense Force Global Hawk unmanned reconnaissance aircraft went missing over international waters about 50 kilometers north of Tottori Prefecture on September 15, with floating debris and oil later found in the area where communications were lost.

Tax Cut Plan Leaves Funding Gap As BOJ Decision Nears

Prime Minister Sanae Takaichi’s government entered a decisive political week on September 15 after approving an outline for food-tax relief and household payouts without settling how the package will be funded, keeping fiscal concerns alive just days before the Bank of Japan is expected to decide whether to raise interest rates again.

Japan to Cut Food Consumption Tax to 1% for Two Years

Japan's government is set to approve tax reform guidelines on September 15 that will reduce the consumption tax on food from the current 8% to 1% for two years starting in April 2027 as part of measures to ease the burden of rising prices.

LDP-Backed Koja Wins Okinawa Governor Race

Genta Koja, a former deputy mayor of Naha who accepts the relocation of the U.S. Marine Corps Air Station Futenma to Henoko in Nago, won the Okinawa gubernatorial election on September 13, defeating incumbent Governor Denny Tamaki and bringing an end to 12 years of prefectural administrations committed to blocking the project.

Takaichi Says Okinawa Election Reflects Voters' Demand for Economic Growth

Prime Minister Sanae Takaichi said the victory of Genta Koja in the Okinawa gubernatorial election reflected the wishes of prefectural residents seeking stronger economic growth, with senior ruling party officials viewing the result as a boost for her administration.

< 2 3 4 5 >