• Kyodo News


The government’s key economic panel on Tuesday endorsed a plan to raise the consumption tax in fiscal 2011 at the earliest and amend legislation to lay the groundwork for the tax boost in 2010.

The panel headed by Prime Minister Taro Aso approved a medium-term fundamental tax reform program, in line with Aso’s pledge to revive the economy in three years and then raise the consumption tax to boost the country’s fiscal health. The idea is certain to draw fire from the ruling parties.

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