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Japanese economic stimulus via gift certificates

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2026-10-18 03:03 UTC → 2026-10-18 20:44 UTC · added ~~removed~~

Local and national discussions regarding economic stimulus through premium gift certificates have emerged in Japan. In Takaoka City, the Central Shopping District announced the issuance of 2,500 premium gift certificate booklets to stimulate local commerce. Supported by city and prefectural subsidies, these booklets are sold for 10,000 yen but provide 13,000 yen in value. At the national level, Prime Minister Sanae Takaichi has proposed using premium-priced gift certificates and potentially reviving the ‘Go To Eat’ program to stimulate demand within the dining industry. This strategy aims to mitigate the impact of proposed consumption tax reductions on food products, specifically targeting sectors where the 10% tax rate will remain. To fund these initiatives, the Prime Minister suggested utilizing non-tax revenue or returning unused government funds to the national treasury. During a House of Councillors Budget Committee session, the Prime Minister reiterated that her administration is considering these support measures for the food service industry. This economic approach, referred to by some as ‘Sanae-nomics’, has prompted debate among economists. While some experts note that policies to combat rising prices have influenced inflation and real wages, concerns persist regarding market confidence, the funding for consumption tax cuts, and the potential impact of rising interest rates. Political debate continues regarding the consumption tax reduction bill. While the Liberal Democratic Party has indicated a willingness to negotiate and amend the bill in response to opposition feedback, the Democratic Party for the People has proposed an alternative plan. Their outline includes raising the residence tax deduction threshold from 1.17 million yen to 1.78 million yen and providing approximately 50,000 yen in benefits to low- and middle-income workers to alleviate the burden of rising prices.

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