Japan PM vows to ensure workers' wage hikes, guard them against inflation

Japanese PM Fumio Kishida vowed to ensure workers' wage hikes through tax breaks to protect the economy from the impact of rising global inflation

Japanese Prime Minister Fumio Kishida vowed on Monday to ensure workers' wage hikes through tax breaks to protect the economy from the impact of rising global inflation and to achieve a virtuous cycle of economic growth and wealth distribution.

Kishida made the pledge on the opening day of parliament's extra session convened to debate a supplementary budget with a record 36 trillion yen ($318 billion) in spending to cushion the blow from the COVID-19 pandemic.

He vowed to restore the economy and then tackle fiscal reform, saying the order must not be put wrong.

Wage hikes hold the key to the premier's aim