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Japan's 2.4 Trillion Yen Plan: Gas Tax Cuts & Free Education

11/1/2025

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Summary

Story summary

The Japanese government seeks 2.4 trillion yen in resources to fund gasoline tax suspension and free education.
On November 1, six parties, including the Liberal Democratic Party, agreed to abolish the gasoline surcharge by December 31 and the gas oil surcharge by April 1, 2026.
The policy will reduce tax revenue by 1.5 trillion yen annually.
The parties plan to review corporate tax cuts and raise taxes on high-income earners.

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Story summary

The Japanese government seeks 2.4 trillion yen in resources to fund gasoline tax suspension and free education.
On November 1, six parties, including the Liberal Democratic Party, agreed to abolish the gasoline surcharge by December 31 and the gas oil surcharge by April 1, 2026.
The policy will reduce tax revenue by 1.5 trillion yen annually.
The parties plan to review corporate tax cuts and raise taxes on high-income earners.