EU, Japan to boost economies
13-12-2008
The European Union and Japan have announced huge stimulus packages to help boost their flagging economies. The EU package, worth US$260 billion was negotiated at a summit in Brussels. The British Prime Minister, Gordon Brown, said it would include "judicious" tax cuts and acceleration of public spending projects. The new measures announced by Japan are worth a similar amount - $255 billion. The Prime Minister, Taro Aso, said Japan's economic prospects had deteriorated since an even larger package was announced in October. Meanwhile, European Union leaders have also agreed a multi-billion-dollar series of measures to tackle global warming. The aim is to cut carbon emissions by 20 percent by the year 2020.
