Finance Minister Sadakazu Tanigaki said Tuesday the government will consider scaling back income tax cuts that have been in place since 1999 because economic recovery has taken root.

"Comparing economic situations between then and now, I think we have come to a stage where we can discuss such policy options," Tanigaki told reporters, citing the need to fix Japan's debt-ridden finances.

But he said the government must pay attention to the effects a measure of this kind could have on the economy.