TOKYO: Prime Minister Shigeru Ishiba will ask ministers to compile an economic stimulus package addressing inflation and Trump administration tariffs as early as this week.
The Sankei newspaper reported this development on Tuesday citing government sources as its reference.
This plan follows a Tuesday meeting between secretaries-general of the Liberal Democratic Party and its coalition partner Komeito.
Both parties agreed on the urgent need for swift measures to help households counter inflation during their discussion.
They also confirmed they would consider cash handouts as part of inflation relief efforts according to the report.
Separately, the Yomiuri newspaper reported that parties hope to pass a supplementary budget funding the economic package during autumn’s extraordinary parliament session.
The package would include measures countering rising prices and supporting domestic companies affected by United States tariffs.
On Tuesday, the Liberal Democratic Party convened a joint plenary meeting of both houses assessing its recent upper house election defeat.
Following this meeting, the party could begin procedures deciding whether to bring forward the leadership election.
Sankei said that by proposing an economic package, the prime minister appears reaffirming his commitment staying in office.
This move counters calls within the party to advance the leadership race according to their analysis. – Reuters