Finance Minister Taro Aso said in his new year policy speech Friday that he will "certainly" go through with the second stage of the consumption tax hike to 10 percent in April 2017 to secure international trust in Japan's efforts to return to fiscal health.
The finance chief, who doubles as deputy prime minister, also vowed to further enhance economic policy to bring about a strong economy led by private-sector demand.
"To secure trust in the country from the market and the international community, we will ensure economic and fiscal management with all possible means and certainly implement a consumption tax hike to 10 percent in April next year," Aso said in a speech to the Diet. Prime Minister Shinzo Abe has the final say on the tax hike.