Japan's Kishida asks party to consider possible income tax cut
TOKYO - Japanese Prime Minister Fumio Kishida has told his ruling party to look into a possible income tax cut as part of measures to cushion the economic blow from rising living costs, a senior party official said on Friday.
Any such move could add to Japan's already ballooning public debt and run counter to the International Monetary Fund's calls for countries to scale back crisis-mode big fiscal spending. "If past examples are any guide, no matter how much the government tries to shore up household income, it would simply go to savings rather spending."
Ruling party heavyweight Hiroshige Seko said on Friday the package needs be sized at more than 15 trillion yen .
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