Japan's Tech Boost Without Tax Hikes

Japan will not raise taxes or issue deficit-covering bonds to finance a 10 trillion yen plan supporting semiconductor and AI projects. Industry Minister Yoji Muto confirmed this following Prime Minister Shigeru Ishiba's announcement aimed at boosting the technology sector.

The Japanese government has announced it will not implement tax increases to fund its ambitious plan to bolster domestic semiconductor and AI initiatives, according to Industry Minister Yoji Muto.

This comes on the heels of Prime Minister Shigeru Ishiba's revelation of a substantial 10 trillion yen package aimed at enhancing the nation's technology sector.

Crucially, the move will not involve the issuance of deficit-covering bonds, ensuring fiscal stability while pursuing strategic technological advancements.

(With inputs from agencies.)