Japan PM Ishiba instructs cabinet to compile fresh stimulus package

TOKYO (Reuters) -Japanese Prime Minister Shigeru Ishiba formally instructed his cabinet on Friday to compile a fresh economic package to cushion the blow to households from rising living costs, Chief Cabinet Secretary Yoshimasa Hayashi said.

Hayashi added that a supplementary budget would be compiled after lower house elections to be held on Oct. 27.

Ishiba said earlier this week that his administration’s economic policies will place the highest priority in “pulling Japan out of deflation,” including by boosting real wages and corporate capital expenditure.

The fresh package of measures would include offering payouts to low-income households, Ishiba has said.