Thursday, October 30, 2008

Japan unveils $277 billion stimulus package

Japan announced a 27 trillion yen (US $277 billion) economic stimulus plan on Thursday that includes $50 billion in new spending.

Last August, Tokyo approved a $12 trillion yen stimulus package.

The new plan is a major expenditure for the government. For example, Bush's stimulus plan earlier this year totaled only $168 billion although the United States has a population of 301 million compared to Japan's 127 million.

Most of the new Japanese package will consist of tax breaks for individuals and businesses.

rate cut (AFP)

Japan unveils stimulus package, stock soar after US rate cut (AFP)

BBC News

Japan unveils $270 billion stimulus package
MarketWatch - 3 hours ago
By Chris Oliver, MarketWatch HONG KONG (MarketWatch) -- Japan unveiled a 27 trillion yen ($270 billion) economic-stimulus package Thursday that includes 5 ...
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