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Top business leader Fujio Mitarai is calling for doubling the consumption tax to at least 10 percent in the latter half of the next decade to meet ballooning social security costs.

“We need to have a double-digit tax rate by the latter half of the 2010s in order to secure stable financial resources for pensions, health care and nursing care,” the chairman of the Japan Business Federation (Nippon Keidanren) said in a recent interview with media organizations.

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