Central Reform Alliance Aims to Abolish Food Tax

The Central Reform Alliance, a new political party in Japan formed by two major opposition groups, pledges to abolish the 8% consumption tax on food. The party also seeks to stabilize the yen's decline and reduce the costs of essentials like food and fuel, as the country prepares for a potential general election.

A newly formed political party in Japan, the Central Reform Alliance, has made headlines this week with its ambitious economic proposals. The party aims to eliminate the 8% consumption tax currently imposed on food sales, a move expected to significantly impact everyday expenses for citizens.

Central Reform Alliance, an agreement between two opposition giants, the Constitutional Democratic Party of Japan and Komeito, is set to influence forthcoming political discourse. The coalition's policy platform includes plans to stabilize the yen and reduce prices on daily necessities such as food and fuel, addressing widespread economic concerns.

As anticipation builds ahead of a possible February general election, Prime Minister Sanae Takaichi will likely face challenges from this strengthened opposition. The formation of the Central Reform Alliance represents a notable shift in Japan's political landscape, with potential implications for economic reform.

(With inputs from agencies.)