Japan Opposition DPFP Pledges Tax Cuts to Boost Take-Home Pay

   Tokyo, June 17 (Jiji Press)--The Japanese opposition Democratic Party for the People on Tuesday announced its campaign promises for this summer's election of the House of Councillors, the upper chamber of the country's parliament, with the focus primarily on boosting people's take-home pay through tax cuts.
   The party promised a temporary reduction in the consumption tax rate to 5 pct from the current 10 pct, the abolition of the provisional gasoline tax surcharge and an increase in the minimum annual taxable income level to 1.78 million yen.
   "Through wage hikes and the return to the people of national tax revenues that increased due to the yen's weakening, we'll aim to realize 'a summer of increased take-home pay,'" the party said.
   The DPFP emphasized support for young people and the working generation, proposing to double the budget for child-rearing and education by issuing what the party calls "education government bonds" worth 5 trillion yen annually. It also pledged to reduce income tax for people up to the age of 30 who started working after finishing junior high or high school.
   The party aims to achieve nominal gross domestic product of 1,000 trillion yen in 2035 through investment tax cuts in growth sectors such as semiconductors and storage batteries, along with measures to stimulate consumption. If successful, tax revenues would rise to 120 trillion yen, significantly improving the government's finances, it explained.

(2025/06/17-12:21)

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