Takaichi Denies Future Consumption Tax Hike

Tokyo, March 17 (Jiji Press)--Japanese Prime Minister Sanae Takaichi on Tuesday denied the possibility of raising the consumption tax rate from the current 10 pct in the future.

"I'm not considering a further consumption tax hike," Takaichi said at a House of Councillors Budget Committee meeting.

Following the planned two-year consumption tax rate cut to zero for food products, the prime minister said, "We'll shift to a refundable tax credit system as we fully understand the necessity of the consumption tax."

Meanwhile, Takaichi stressed that revising the operational guidelines for the country's three principles on the transfer of defense equipment is a key policy step to create a desirable security environment.

"Developing the defense industry and other sectors with dual-use technologies will lead to growth in the Japanese economy," she said.

[Copyright The Jiji Press, Ltd.]