Japan govt. mulling cash handout for families struggling against price hikes

The Japanese government is considering offering a cash handout of 50,000 yen, or about 350 dollars, each to low-income families to help them cope with soaring energy and food prices.

The measure is part of Prime Minister Kishida Fumio's plan to continuously support businesses and households struggling against the price hikes, caused largely by Russia's invasion of Ukraine.

The government plans to provide the handout to households that are exempt from resident tax. It intends to fund the program, which will likely cost over 6 billion dollars, using reserve funds of this fiscal year's budget.

The government is making final arrangements with the ruling parties to implement the handout. Officials hope to have it approved as early as Friday at a government task force meeting.