The French government plans to extend existing policies to help households cope with higher energy costs. However, households will have to bear some of the extra costs themselves. Current caps on power prices and a gas price freeze totalling €16.5bn (US$16.7bn) are set to expire by the end of the year. The price tag for the measures between 2021 and 2023 is expected to reach €67bn, or almost 3% of the country's GDP.
In addition, the Japanese government has set aside JPY1,300bn (US$9.1bn) to extend subsidies paid to oil wholesalers until year-end. The country pays subsidies up to JPY35/l (US$25c/l) to keep prices at the pump to around JPY168/l (US$1.18/l). In addition, Japan plans to give cash transfers of JPY50,000 to around 16 million low-income households to assist them in coping with rising gas, power, and food prices. The measure will require a budget of about JPY900bn (US$6.3bn).