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Japan's PM contender Kishida says won't raise sales tax for a decade

Published 09/18/2021, 03:08 AM
Updated 09/18/2021, 03:45 AM
© Reuters. Japan's former Minister for Foreign Affairs Fumio Kishida, one of the candidates for the presidential election of the ruling Liberal Democratic Party (LPD), speaks during a debate session held by Japan National Press club, in Tokyo, Japan, September 18, 2

TOKYO (Reuters) - Japan will not raise the sales tax for about a decade as imposing a higher levy on households at this time would cripple the pandemic-hit economy, Fumio Kishida, a key contender running in the ruling party leadership race, said on Saturday.

"We won't raise the sales tax rate for about a decade," Kishida said in a televised debate with three other candidates to lead the ruling Liberal Democratic Party (LDP).

While Japan must keep a pledge to pursue fiscal reform, it must prioritise cushioning the blow from the pandemic and create a cycle in which strong growth brings wealth to broader sectors of the economy, he said.

Latest comments

Inflation IS the sales tax
They should just default now and spare themselves the hussle of wasting more time and money same goes for Italy Greece etc… it’s like trying to keep a dead body alive thru adrenaline injections
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