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POLITICS

Gov’t considering allocating over 1 trillion yen to education from tax increase

  • September 22, 2017
  • , Mainichi , p. 1
  • JMH Translation

Discussions are underway to allocate over 1 trillion yen to child-rearing support, including the introduction of free preschool and higher school education, out of money to be raised from a consumption tax hike, as Prime Minister has announced plans to review the use of tax revenue to be generated from raising the consumption tax to 10%. The government is considering tapping the amount that it initially planned to use to repay the national debt. This may spark questions over how to achieve fiscal integrity at the same time.

 

Increasing the consumption tax from the current 8% to 10% is projected to bring in about 5 trillion yen in state coffers. Of that amount, the government initially planned to spend about 4 trillion yen on debt payment and use the remaining 1 trillion yen to improve social welfare programs, which include healthcare, nursing care, and child care services.  

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