Japan Govt, LDP Likely to Skip Consumption Tax Cut

   Tokyo, May 9 (Jiji Press)--The Japanese government and the ruling Liberal Democratic Party are considering skipping a consumption tax cut as an economic measure to fight inflation and counter tariffs by U.S. President Donald Trump, it was learned Friday.
   Some people in the ruling camp led by the LDP are calling for a consumption tax cut ahead of this summer's election for the House of Councillors, the upper chamber of the Diet, Japan's parliament.
   The government and the LDP, however, judge such a move to be inappropriate since the revenue from the consumer tax is regarded as a key source of finance for the country's social security costs, administration officials said.
   Prime Minister Shigeru Ishiba, also LDP president, is believed to have shared this view with LDP Secretary-General Hiroshi Moriyama during their meeting on Thursday evening.
   "It is not appropriate to lower the consumption tax rate, as the tax is positioned as an important source that supports the social security system for all generations," Chief Cabinet Secretary Yoshimasa Hayashi told a press conference Friday.

(2025/05/09-18:05)

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