Prime Minister Naoto Kan on Wednesday suggested he may sideline his idea of raising the consumption tax.

Kan told reporters the issue of whether a tax hike should be an option for fixing Japan's tattered finances is being discussed by a key government panel and the policy council of his Democratic Party of Japan and he will "wait" for the results of their deliberations.

"I presume there will be many opinions," Kan said at his office when asked if he had already ruled out a tax hike.