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Minister: Consumption tax hike as planned

Japan’s Economic and Fiscal Policy Minister Toshimitsu Motegi says that the government plans to raise the consumption tax from the current 8 to 10 percent in October as scheduled.

 

Motegi says the Japanese economy is recovering at a moderate pace as the employment and income situation is improving. He notes domestic demand is supported by high-level corporate profits and other factors.

 

He says the planned tax hike is necessary not only for restoring fiscal health but also for improving social security and carrying out a human resources development initiative, including free education.

 

The remark came on Thursday after Koichi Hagiuda, a close aide to Prime Minister Shinzo Abe, earlier in the day hinted at the possibility of delaying the hike.

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