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.
To fund part of the spending, the government will compile a supplementary budget for the current fiscal year of 13.1 trillion yen, Kishida told reporters.
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.
($1 = 150.5100 yen)Reporting by Yoshifumi Takemoto, writing by Leika Kihara; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.
Persons:
Fumio Kishida, Zhang Xiaoyu, Kishida, Yoshifumi Takemoto, Leika Kihara, Kim Coghill
Organizations:
REUTERS Acquire, Rights, Reuters, Thomson
Locations:
Tokyo, Japan, COVID