Prime Minister Fumio Kishida wants to give money back to the people. They’re saying "no thanks.”
Kishida has seen his popularity plummet to worrying new lows in every major poll, with approval dropping almost 11 percentage points to 29.1% in a JNN survey, taken shortly after he announced his latest economic stimulus package.
The prime minister has overcome low polling before, but more concerning will be the opposition to his centerpiece plan for tax cuts: He intends to return ¥40,000 ($267) per taxpayer next year in a one-time reimbursement of the country’s growing tax revenue, as well as hand out cash to lower-income households. But 64% of those polled by JNN say they disapprove. Economists reckon the moves will have limited impact on the economy, with the money likely to end up in savings.