Prime Minister Fumio Kishida offers tax cuts to help Japanese households ride out inflation

Japan’s prime minister has pledged to cut household income tax to compensate for the rising cost of living. In his speech at the start of the new parliamentary session on October  23, 2023, Fumio Kishida said his administration intends to pull the economy permanently out of stagnation. His comments came as his ruling Liberal Democratic Party suffered a fresh setback when it lost in a special election.