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Japan's stimulus package delayed

Japan's government today postponed until next week a huge economic stimulus package after ruling coalition squabbles delayed an announcement.

Talks between ministers would continue on Monday, and the government hoped for cabinet approval by Tuesday, a top government spokesman said.

'We had been making efforts to finish it this week but we have yet to add the final touches,' the spokesman said.

The Nikkei business daily, citing unnamed officials, said the package would be worth 24 trillion yen ($272 billion), of which 7.1 trillion yen ($80.5 billion would be actual spending.

The hold-up reportedly came after the financial services minister, Shizuka Kamei, the leader of the tiny People's New Party, boycotted a ministerial meeting to add force to his demand for higher spending.