Experts under National Council on Social Security Holds 1st Meeting

Tokyo, March 24 (Jiji Press)–An expert panel under the National Council on Social Security, a suprapartisan body to discuss a proposed consumption tax cut and a refundable tax credit system, held its first meeting on Tuesday. The 12-member panel will sort out issues to be discussed by the council, which aims to compile an interim report before this summer. At the start of the day’s meeting, Minoru Kiuchi, minister for social security reform for all generations, expressed hope for productive discussions by the expert panel, chaired by former Keio University President Atsushi Seike. After the meeting, Miyazaki Governor Shunji Kono, a panel member, told reporters that he called for a system design that considers stable fiscal management. The government and ruling parties plan to reduce the consumption tax rate on food to zero for two years as a temporary measure until the introduction of a refundable tax credit scheme. However, there are many challenges, including securing about 10 trillion yen in funding. END [Copyright The Jiji Press, Ltd.]