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


Reuters | Tokyo | Updated: 18-09-2021 12:24 IST | Created: 18-09-2021 12:21 IST
Japan's PM contender Kishida says won't raise sales tax for a decade
Image Credit: Twitter(@kishida230)
  • Country:
  • Japan

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 prioritize cushioning the blow from the pandemic and create a cycle in which strong growth brings wealth to broader sectors of the economy, he said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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