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

'While Japan must keep a pledge to pursue fiscal reform, it must prioritise cushioning the blow from the pandemic'


Reuters September 18, 2021
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, 2021. PHOTO: REUTERS

TOKYO:

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).

Read More: Trump says he paid millions in taxes, plays down concerns about debt

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.

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