Tokyo, June 22 (Jiji Press)–Japanese Prime Minister Sanae Takaichi said Monday that any cut in the consumption tax on food products and beverages would last only two years. “I want to make this clear. Two years after implementation, it will be restored,” Takaichi told the Budget Committee of the House of Representatives, the lower chamber of the Diet, the country’s parliament. Asked whether the cut would expire after two years even if the economy worsened or inflation persisted, Takaichi said the measure is only “a bridge” until a refundable tax credit program is put in place. “After the two-year cut ends, we envision bringing the tax back to the current reduced rate of 8 pct,” she said. “The ability to adjust the consumption tax rate if something such as large-scale natural disasters or infectious-disease outbreaks happens is an important policy consideration for me,” Takaichi said. END [Copyright The Jiji Press, Ltd.]
PM Takaichi Says Consumption Tax Cut Would Be Limited to 2 Years
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