• SHARE

A special 2 trillion yen tax cut will be included in this fiscal year’s supplementary budget, Prime Minister Ryutaro Hashimoto announced Wednesday, signaling an abrupt about-face in his fiscal restructuring efforts.

The unexpected 2 trillion yen cut in income and resident taxes is aimed at jump-starting the economy, Hashimoto said at an unscheduled news conference. He said the emergency, one-time measure will be financed through deficit-covering bonds — a move expected to further damage the nation’s fiscal health.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW