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Economy

Japan kicks off debate on $265bn stimulus including batteries, chip factory

Kishida seeks to put 'new capitalism' spin on government spending as economists question size

A solar power plant in Hokkaido in northern Japan: A Japanese government panel has called for funding for batteries to store renewable energy.

TOKYO -- The Japanese government has kicked off discussions on an economic stimulus package estimated at more than 30 trillion yen ($265 billion), starting with a debate in Prime Minister Fumio Kishida's council on a "new capitalism" that balances growth and wealth distribution.

The council, led by the prime minister himself and a top priority for his government, on Monday issued recommendations in four areas: innovation, startups, digital society and economic security.

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