Tokyo Gov. Shintaro Ishihara’s surprise proposal to impose a 3 percent tax on gross profits of large banks in the metropolis drew a flurry of protest from the nation’s financial institutions Tuesday.
“The plan is at odds with national policy,” Michio Ochi, chairman of the Financial Reconstruction Commission, said in a news conference. “A local government is attacking financial institutions for the sake of revenue at a time when public funds are being used to bolster financial institutions and rebuild Japan’s economy.”
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.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.