Japan's ruling party introduces income tax breaks to alleviate the impact of price hikes

<p>The tax reform panel of
Japan's ruling Liberal Democratic Party has agreed on income tax
breaks aimed at offsetting the pain of price hikes on households
to help change decades of deflationary mindset, a document
reviewed by <a href="https://www.reuters.com/markets/asia/japan-agrees-tax-cuts-support-households-defeat-deflation-2023-12-14/" target="_blank" rel="nofollow">Reuters </a>showed on Thursday.
</p><ul><li>To encourage a virtuous cycle of growth led by
private-sector demand, the tax policymakers are ramping up tax
breaks on companies that raise wages.</li><li>The ruling coalition will include the tax breaks in the
fiscal 2024 tax reform framework that is finalised on Thursday. </li></ul><p>More at that link above </p><p>Japan PM Kishida has been sacking ministers in the midst of a corruption probe and slumping poll support. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.