( Tokyo, 13rd Sept 2020 ) Japan’s next prime minister and Chief Cabinet Secretary Yoshihide Suga reiterated that Japan will not need to raise the current 10% consumption tax rate in the next 10 years.
According to reports, Japanese Prime Minister Shinzo Abe recently announced his resignation due to health reasons. The ruling Liberal Democratic Party will vote on the 14th to elect a new president (party chairman) and be appointed as the new prime minister by the National Assembly on the 16th.
At present, Yoshihide Suga, who has received the most support from the party, the former secretary general of the ruling Liberal Democratic Party, Shigeru Ishiba, and the chairman of the political affairs investigation director Kishida Fumio attended the public debate hosted by the Japan Press Club on the 12th.
Focusing on raising the consumption tax rate from the current 10%, Yoshihide Suga stated in a TV program on the 10th that in the face of the problem of aging and declining birthrate, he would have to raise it in the future, but he revised his statement on the 11th.
At the debate on the 12th, Suga Yoshihide stated that fiscal consolidation can only be achieved by doing a good job in economic regeneration. It is with this as the basic policy that Abenomics will work. Yoshihide Suga said that he fully agrees with Abe’s proposal that “the consumption tax rate will not be increased within 10 years” and does not deny that the consumption tax will be increased in the future, but he will not consider the increase within 10 years. He also explained that “(10th The speech) is to consider that the future (tax increase) should not be denied."
**Info & Image are taken online
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