Fumio Kishida says Japan must continue to take fiscal and monetary measures to support the economy.
“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% rate. The government’s decision to raise the sales tax to 10% from 8% 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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Japan’s PM candidate Kishida cautious about cutting sales tax | Malay MailTOKYO, Aug 31 — Fumio Kishida, a senior Japanese ruling party official seen as among candidates to become next prime minister, today voiced caution over the idea of cutting the sales tax rate to help the economy weather the hit from the coronavirus pandemic. “The sales tax is a source of...
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