Japan's Kishida plans tax cut, breaks

TOKYO: Japan's Prime Minister Fumio Kishida said on Monday he is preparing to take bold economic measures, including an income tax cut for households hit by inflation and tax breaks for companies to promote investment, in what's seen as a move to lift his dwindling public support.

In his speech to start a new Parliamentary session, Kishida said it was time to shift from an economy of low cost, low wages and cost-cutting to one backed by growth led by sustainable wage hikes and active investment.