JAPAN RULING PARTIES MULL UTILITY SUBSIDIES TO OFFSET HIGHER BILLS - TOKYO JAPAN

JAPAN RULING PARTIES MULL UTILITY SUBSIDIES TO OFFSET HIGHER BILLS - TOKYO JAPAN 

@Jr_Paku Midin Channel

TOKYO

Senior members of Japan's ruling parties agreed Tuesday to consider reinstating subsidies to reduce summer electricity and gas bills, as households continue to grapple with the pain of surging prices.

Liberal Democratic Party Secretary General Hiroshi Moriyama said after holding talks with his Komeito party counterpart Makoto Nishida that using reserve funds for the current fiscal year could be an option to fund the subsidies.

Moriyama said they also must consult opposition parties, given that the ruling coalition does not hold a majority in the House of Representatives.

The government introduced subsidies for utility bills between August and October last year as the country experienced scorching heat that drove up household electricity usage.

LDP Diet affairs chief Tetsushi Sakamoto told reporters that his party will push for an earlier implementation of the subsidy program, possibly in June or earlier. Komeito Diet affairs chief Hidemichi Sato also voiced support for quick action.

To counter rising energy prices following Russia's war in Ukraine and yen weakness, the Japanese government initially introduced the utility bill subsidies between January 2023 and May 2024.

The program has since continued off and on, though subsidies have been scaled back. The government allocated more than 4 trillion yen in total.

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