Japanese Prime Minister Fumio Kishida advocates increasing wages in his country in the face of inflation. But he had to give up setting an example, given the controversy caused by an increase in his own remuneration. His government has prepared a bill aimed at increasing salaries throughout the public administration, up to the top of the executive. In this way, Fumio Kishida’s annual salary would increase by 460,000 yen (about 2,850 euros) to a total of 40.6 million yen (about 250,000 euros).
Therefore, “if Parliament approves the bill, the prime minister, ministers and deputy ministers have decided to return the amount of their salary increases to the public treasury,” continued Hirokazu Matsuno.
Economic support plan equivalent to 100,000 million euros
Last week Fumio Kishida unveiled a new and extensive support plan for the Japanese economy, equivalent to more than 100 billion euros, in order to alleviate the effects of inflation on the population and try to improve its faltering popularity.
Inflation in Japan reached levels not seen since 1981 at the beginning of the year and currently remains well above the Bank of Japan’s 2% target (2.8% in September year-on-year, excluding fresh products). This rise in prices is weakening the purchasing power of Japanese households as wage increases struggle to keep pace. The decline of the yen against the dollar and the euro is also weighing on Japanese consumers.
Source: BFM TV
