Japan PM vows not to hike taxes to boost defense budget in FY 2024

Prime Minister Fumio Kishida said Friday that his government will not hike taxes to boost Japan's defense budget in the next fiscal year from April, given the hardships people currently face as the result of higher prices without adequate wage growth. During a parliamentary session, Kishida -- who has expressed eagerness to reduce income taxes in fiscal 2024 to prop up the economy -- said that Japan is "not in a situation" where tax hikes can be carried out. Kishida has pledged to return some of the recent increase in government revenues to the public. Japan's tax income reached 71.14 trillion...