Gas Tax Cuts Could Dent Local Govt Revenues by 500 B. Yen: Minister
Tokyo, Feb. 22 (Jiji Press)--Possible gasoline and other tax cuts, if the so-called trigger provision to help curb gasoline prices is activated for one year, could dent the total revenues of local governments across Japan by 500 billion yen or more, internal affairs minister Yasushi Kaneko said Tuesday.
The provision, currently suspended, calls for temporarily reducing gasoline and other taxes if the average retail gasoline price stays above 160 yen per liter for three consecutive months.
On Monday, Prime Minister Fumio Kishida told a parliamentary committee meeting that the government will consider lifting the suspension on the trigger provision.
At a press conference on Tuesday, Kaneko said he will respond to rising oil prices, together with other related ministers.
Meanwhile, industry minister Koichi Haguida told a separate news conference the same day that the government will decide next month whether to extend the current subsidies for oil wholesalers beyond the end of March, when the subsidies are currently set to end.
[Copyright The Jiji Press, Ltd.]