Japan’s Prime Minister Ishiba asks cabinet to come up with new stimulus package Reuters

TOKYO (Reuters) – Japanese Prime Minister Shigeru Ishiba formally instructed his cabinet on Friday to put together a new economic package to cushion the blow to households from rising living costs, Chief Cabinet Secretary Yoshimasa Hayashi said.

Hayashi added that a supplementary budget would be drawn up after the lower house election on October 27.

Ishiba said earlier this week that his administration’s economic policies would place the highest priority on “pulling Japan out of deflation,” including by raising real wages and corporate capital spending.

The new package of measures would include offering payments to low-income households, Ishiba said.