The amount of the supplementary budget has not been decided, the chief government spokesman, Yoshihide Suga, said Friday after the Cabinet met.
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As concrete steps to achieve the goals are not outlined, critics also say the package reflects Abe’s intention to charm voters ahead of the House of Councilors election next summer.
He said Abe would announce details of the pledge at the United Nations climate conference to be held in Paris, which is set to be the biggest-ever gathering of world leaders on climate change.
The jobless rate in Japan fell to 3.1% in October from 3.4% in September, hitting the lowest level since 1995, government data showed today. The success of the government’s “Abenomics” policies hinges on getting consumers and companies spend to more.
Citing unnamed sources, the Nikkei newspaper said on Monday that the government is planning to raise the minimum wage by 3 per cent. But the draft didn’t provide any specifics and analysts say the government will need to do more to foster durable growth.
The Yomiuri Shimbun Japan plans to boost financial aid to developing countries to help them tackle climate change by providing about ¥1.3 trillion (about $10.6 billion) a year by 2020, Prime Minister Shinzo Abe said on Thursday. Consumer spending, meanwhile, fell 2.4 per cent from the same month a year earlier, and average incomes fell 0.9 per cent. Japan’s inflation rate also was lower in October, with core inflation excluding volatile food prices down 0.1 per cent for the third month in a row.
Japan’s economy contracted in the third quarter owing to waning business investment and slumping inventories, the government said, booking a 0.8 percent contraction in the July-September quarter of 2015, marking a second straight quarterly contraction, following a revised 0.7 percent drop in the second quarter.
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“Those small tiny firms, which are always losing money and don’t pay taxes, are not making money at all”.
