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Japan unveils economic stimulus package

Japan’s prime minister yesterday unveiled a $50.8bn economic stimulus package, the second in two months, while warning of the damaging impact the global credit crisis would have on the world’s second largest economy. The package includes direct handouts, with the average amount expected to be $608 for a family of four. Tax breaks on mortgages will also be increased and the government plans to raise the amount of public funds available to inject into banks.

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