Japan's Prime Minister Shigeru Ishiba has instructed his cabinet to prepare a package of economic measures aimed at supporting inflation-hit voters as the country approaches a general election on October 27, 2024. The initiative is designed to alleviate the burden of high prices and stimulate economic growth.
The proposed measures will include cash handouts for low-income households and support for regional economies. In order to finance this package, the government plans to submit an additional budget to parliament following the election.
This move reflects the government's response to growing public concern over rising living costs, which could significantly influence voter sentiment and election outcomes.
Source: Bloomberg, October 4, 2024