Japan planning 13.5 trillion yen extra budget to fund stimulus package: newspaper

THE Japanese government is making arrangements to compile a supplementary budget of about 13.5 trillion yen (S$116.8 billion) to fund a stimulus package to help low-income households and offset rising prices, the Sankei newspaper reported late on Wednesday.

Under the plan, the government would provide 30,000 yen (S$260) to low-income households that are exempt from paying residential taxes, and 20,000 yen per child for households with families, the paper said.

It is also considering restarting subsidies for electricity and gas prices from January to respond to high fuel costs, media reports have said.

Prime Minister Shigeru Ishiba is looking to finalise the stimulus package on Nov 22, the Sankei said. REUTERS