Sharjah24 - AFP: Japan's minority government was set Friday to sign off on a $140-billion stimulus drive aimed at putting more money in consumers' pockets after the ruling party's worst election result in 15 years.
The October 27 contest saw voters -- angry over corruption in the Liberal Democratic Party (LDP) and inflation -- deprive new Prime Minister Shigeru Ishiba's coalition of a majority in parliament's lower house.
Chief government spokesman Yoshimasa Hayashi said Friday that the package -- reportedly worth 21.9 trillion yen ($141.8 billion) -- would be approved by Ishiba's cabinet later in the day.
"The package will have business impacts worth around 39 trillion yen and additional general account spending, which provide backing for the package, will be 13.9 trillion yen," Hayashi said.
"We aim to emerge out of the cost-cut style economy and transfer into the high added value creation economy," he told reporters.
It includes energy and fuel subsidies and cash handouts up to 30,000 yen ($194) to low-income households in the world's fourth-biggest economy, according to the media.
To pay for the package, the second in as many years, the government will table a supplementary budget by the end of the year in the lower house.
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