CDP Calls for Temporary Consumption Tax Cut

Tokyo, June 3 (Jiji Press)--The leading opposition Constitutional Democratic Party of Japan on Friday released its campaign promises for this summer's House of Councillors election, calling for provisionally lowering the country's 10 pct consumption tax to 5 pct.

The CDP's campaign platform for the election for the upper chamber of parliament features measures to deal with soaring prices.

"The administration of Prime Minister Fumio Kishida is failing to address the current interest and exchange rate situation despite rising prices," CDP leader Kenta Izumi said at a press conference.

The party called for an exit from former Prime Minister Shinzo Abe's "Abenomics" economic policy, saying its pursuit of massive monetary easing has led to the yen's weakness and bad inflation.

It pledged to review the 2013 joint statement by the government and the Bank of Japan that has set the central bank's 2 pct inflation target.

[Copyright The Jiji Press, Ltd.]