Japan’s parliament enacted a law Wednesday to expand monthly child allowances and parental leave, as the government seeks to tackle the country’s declining birthrate through more equitable burden sharing. The government will set up a new funding scheme for child-rearing support in fiscal 2026 with higher monthly health insurance premiums after the number of babies born in 2023 fell to a record low in the country’s rapidly graying society. The law comes as the government of Prime Minister Fumio Kishida views the period leading up to 2030 as “the last chance” to reverse the trend, with late marr…