• Kyodo

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Prime Minister Yoshihiko Noda said Saturday he will ask his Cabinet to approve a plan to hike the 5 percent consumption tax by the end of the fiscal year in March.

Speaking at a news conference after wrapping up regional summits in Indonesia, Noda also said he was determined to cap new bond issuance at ¥44 trillion in the draft budget for fiscal 2012, which begins in April.

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