Takaichi Indicates Governmental Bonds for Tax Cut
Having backed to normal process of the Diet with replacement of Minister of Agriculture, Forestry and Fisheries, Prime Minister Sanae Takaichi entered discussions over the bill for consumption tax cut for foods. Although she had been denying issuance of governmental bonds for the policy, Takaichi referred to a possibility of new governmental bonds in a context of national budget as a whole. If she decides issuance of governmental bonds for consumption tax cut, it will totally contradict from what she has been saying. Takaichi government submitted a bill for the tax cut to the Diet, which would reduce consumption tax rate for foods from eight percent to one percent for two years and introduce new subsidy to support low-income families using the revenue of the rest of one percent of consumption tax. After two-year tax cut, the government intends to introduce subsidy for supporting low-income families, as consumption tax rate for foods will go back to eight percent. ...