• Ground Self-Defense Forces soldiers rappel from a helicopter during a live-fire exercise at the East Fuji Maneuver Area in Gotemba, Shizuoka Prefecture, on May 27. | AFP-JIJI
    Ground Self-Defense Forces soldiers rappel from a helicopter during a live-fire exercise at the East Fuji Maneuver Area in Gotemba, Shizuoka Prefecture, on May 27. | AFP-JIJI

  • BLOOMBERG

Japan’s government plans to consider raising taxes to help fund a jump in defense spending a year later than previously stated, according to the latest draft of this year’s economic and fiscal policy plans seen by Bloomberg on Tuesday.

In December, Prime Minister Fumio Kishida’s government had stated in its annual tax code that hikes for funding defense should come at the appropriate time in 2024 or onward.

But the latest document handed to a ruling Liberal Democratic Party panel for approval showed that it can be done at an appropriate time in 2025 onward, and the decision can be made in “a flexible manner,” while considering non-tax income and other revenue streams.

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