Japanese Opposition CDP Proposes Economic Measures

Tokyo, Nov. 14 (Jiji Press)–The main opposition Constitutional Democratic Party of Japan on Friday proposed an 8.9-trillion-yen economic package, including cash benefits to households struggling with high prices. The package calls for providing 30,000 yen per person to low- and middle-income households and 20,000 yen per child to all households. The CDP will call for the government to include those measures in an economic package that it plans to put together shortly. “Households are in a crisis, while wage increases and investments could wane,” CDP leader Yoshihiko Noda said at a press conference. “Economic measures need to be implemented swiftly.” The CDP’s package seeks to reduce the consumption tax on food to zero for a limited period starting in October 2026. It also includes providing support for financially struggling hospitals and raising pay for medical and care workers. The package will be financed by a higher-than-planned portion of tax revenue, a surplus in the government’s foreign exchange fund special account and excess reserves in government funds, the CDP said, adding that deficit financing bonds will not be issued. END [Copyright The Jiji Press, Ltd.]