In an attempt to mitigate its economic woes, the Japanese government has approved a stimulus package of more than $5 billion in new spending. The recession in Japan has been made worse by the closure of nuclear plants after the Fukushima disaster, which has raised the country’s energy costs.
In other news, the EU decision to impose a uniform 20% VAT on new homes has British economists worried, since it will raise the average cost of a new home by an estimated £48,000.
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