Constitutional Democratic Party of Japan (CDP) chief Yoshihiko Noda has said that his party's pledge to reduce the consumption tax rate on food items to zero is a "responsible tax cut" because the pledge comes with a funding measure.
"Measures to cope with rising prices will be the biggest focus (of the July 20 House of Councilors election)," Noda said in an interview on Wednesday. "We've pledged to implement a zero tax rate for food for one year in principle."
"It will be a responsible tax cut with a deadline and a clearly outlined funding source," Noda stressed. "We won't issue debt-covering bonds, nor will we create a hole in social security. ... It's distinct from (the tax reduction proposals of) other parties."
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