SEOUL, November 21 (AJP) - Japan's ruling coalition has reached an agreement with an opposition party on Wednesday to increase the tax-free income ceiling, clearing the path for a comprehensive inflation relief package amid rising consumer prices.
The deal between Prime Minister Shigeru Ishiba's administration and the Democratic Party for the People (DPP) includes raising the current threshold of 1.03 million yen (US$6,643), with discussions continuing on the specific amount and measures to counter potential tax revenue losses.
"We are unlikely to oppose the spending plan on the condition of the steady implementation of the economic measures," DPP policy chief Makoto Hamaguchi said after the negotiations.
The agreement comes as the government prepares to roll out economic stimulus measures, including utility subsidies and financial support for low-income households, with cabinet approval expected by Friday.
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