The administration is considering a ¥10.3 trillion tax hike plan over a five-year period to secure funds for reconstruction work following the March 11 earthquake and tsunami, officials said.
It is also eyeing securing extra revenues of around ¥200 billion by selling its holdings in subway operator Tokyo Metro Co. and other government-owned assets, while aiming to ensure around ¥2.4 trillion over four years from fiscal 2012 by scaling down its key policy spending, including monthly child allowances.
Vice Finance Minister Fumihiko Igarashi said Monday the government is weighing selling assets including shares in NTT Corp. and Japan Tobacco Inc. to pay for earthquake reconstruction costs.