Kishida pivoted away from his previous stance Tuesday by scrapping September-end plans to stop subsidies that cap gasoline prices. He also pledged to consider fresh economic measures to help households and businesses deal with inflation next month.
It also comes amid prolonged talks over how to fund Kishida’s signature initiatives to ramp up national defense and childcare support. Still, it may be hard for the prime minister to resist the temptation to bolster spending, with analysts saying he may still call a national election by year-end. Kishida also called for a discussion on a broader stimulus package next month. The government is reportedly planning to assist growth industries such as semiconductors and encourage companies to raise wages, according to the Yomiuri newspaper. The report said the government is also considering continuing subsidies to cut electricity and city gas bills beyond October.
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