Japan’s PM candidate Kishida cautious about cutting sales tax | Malay Mail

Fumio Kishida, a senior Japanese ruling party official seen as among candidates to become next prime minister. — Reuters pic

“The sales tax is a source of revenue to pay for Japan’s social welfare burden...,” Kishida told a television programme, when asked if he opposed cutting it from the current 10 per cent rate. The government’s decision to raise the sales tax to 10 per cent from 8 per cent in October last year pushed Japan’s economy into recession, even before Covid-19 hammered consumption and exports this year.

A group of ruling party lawmakers have recently called on the government to consider cutting the sales tax to cushion the pandemic’s blow on households — an idea senior government officials have ruled out so far.

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