Japan to resume electricity and gas subsidies to ease living costs
Takaichi expects three months of utility support to ease household costs by about 7,000 yen, while petrol subsidies will be reduced gradually from December.
- Japan will reinstate subsidies for electricity and gas for a three-month period, from December through February, to ease household costs.
- The government estimates this support will reduce the financial burden on households by approximately 7,000 yen over the three-month duration.
- In contrast to the resumed support for utilities, subsidies for petrol are set to be gradually reduced over the same period.
Japan will bring back electricity and gas subsidies for three months from December to ease household costs, while preparing to reduce petrol support gradually, Prime Minister Sanae Takaichi announced on Thursday (October 29).
The electricity and gas assistance will continue through February as part of the government’s response to rising living costs. Addressing reporters at the prime minister’s office in Tokyo, Takaichi described the support as “expected to reduce the (financial) burden (on households) by about 7,000 yen in the three-month period.”
For petrol, Takaichi indicated that subsidies would be reduced through monthly increases in the reference price. The benchmark, currently 170 yen a litre, would rise by 5 yen each month from December.
“We'll closely monitor crude oil prices, while considering their impact on people's daily lives and economic activities,” she said.
[Copyright The Jiji Press, Ltd.]
