Kishida Denies Immediate Review of Financial Income Taxation

Politics Lifestyle

Tokyo, Oct. 10 (Jiji Press)--Japanese Prime Minister Fumio Kishida said in a television program Sunday that he has no plans for the time being to review financial income taxation.

"There will be no distribution without growth," Kishida said, referring to a possible boost in tax incentives for companies that raise wages for their workers. "We have a lot to do before we think about (reviewing) financial income taxation."

During his campaigning for last month's leadership election of the ruling Liberal Democratic Party, Kishida called for raising tax on financial incomes apparently in response to criticism that government policies give preferential treatment to the wealthy.

The new prime minister's remarks on the possible tax hike for financial incomes are believed to have chilled investor sentiment and have become a cause of Japanese stock price falls in recent sessions.

"A misunderstanding that we'll do it right away has become widespread," Kishida said in the TV program aired by Fuji Television Network Inc. "We have to surely clear the misunderstanding so that unnecessary anxieties are not caused to people involved."

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Jiji Press