Tax Cut to Bring 36,000-Yen Benefit per Citizen: PM Takaichi

Tokyo, Oct. 9 (Jiji Press)--The planned consumption tax cut for food is expected to reduce household financial burdens by about 36,000 yen per citizen, Japanese Prime Minister Sanae Takaichi said Friday.

"The tax rate cut will basically be reflected in prices," Takaichi said at a plenary meeting of the Senate, the upper chamber of the Diet.

She explained that the 36,000-yen figure was calculated by dividing the total tax revenue loss to the central and local governments from the tax cut by the country's population.

During the Upper House meeting, Yasue Funayama of the Democratic Party for the People asked the prime minister how her administration will make up for local government revenue losses.

Takaichi vowed to fully cover these revenue losses with state funds, saying, "We'll properly secure necessary local tax grants."

[Copyright The Jiji Press, Ltd.]