The agreement came between the president Japanese government And the opposition party, after Ishiba pledged to include and discuss the opposition’s proposals regarding tax cuts within government measures.
Makoto Hamaguchi, a senior official with the opposition Democratic Party for the People, confirmed the agreement with Ishiba.
Bloomberg reported on Wednesday that the package will stipulate that annual discussions on tax reforms for the next fiscal year will include raising the ceiling for the income tax exemption in… Japan Of 1.03 million yen ($6,650), it will also include mention of discussions on cutting gasoline taxes, as the party has proposed.
Three parties also agreed to pass an additional budget to finance the stimulus package by the end of next December.
The stimulus package is expected to be announced this week.
