Japan government approves $140bn stimulus

Tokyo: Japan s minority government signed off Friday on a $140 billion stimulus drive aimed at putting more money in consumers pockets after the ruli...

Tokyo: Japan's minority government signed off Friday on a $140-billion stimulus drive aimed at putting more money in consumers' pockets after the ruling party's worst election result in 15 years.

The October 27 contest saw voters -- angry over corruption in the Liberal Democratic Party (LDP) and inflation -- deprive new Prime Minister Shigeru Ishiba's coalition of a majority in parliament's lower house.

The package worth 21.9 trillion yen ($141.8 billion) includes handouts of around 30,000 yen for low-income households, fuel and energy subsidies, and assistance to small businesses, according to the government.

The overall business impact was expected to be 39 trillion yen.

"To enhance the vitality of Japan as a whole, we will strengthen the growth of the national and regional economies and raise wages for all people, of all generations," top government spokesman Yoshimasa Hayashi told reporters.