Japanese Prime Minister Fumio Kishida has promised to carry out further tax cuts in order to promote wage raises and increase domestic investment.
The tax cuts, discussed Wednesday at a meeting of a government panel on Kishida’s “new capitalism” initiative, will be included in a package of fresh economic measures to be compiled by the end of October.
“We will strengthen tax break measures for sustainable wage increases,” Kishida told the meeting, which he chaired at the prime minister’s office.
Japan will shift to a “growth-oriented economy,” Kishida also said, vowing to “implement tax cuts that will contribute to strengthening the country’s growth potential” by promoting domestic investment.
On Monday, he said that the economic package will appropriately redistribute increases in tax revenue, which are the fruits of the recent economic growth.
Source : Nippon.com