Suga Says He Sees No Sales Tax Hike For Japan in Next 10 Years By Bloomberg

Suga Says He Sees No Sales Tax Hike For Japan

© Bloomberg. Yoshihide Suga, Japan’s chief cabinet secretary, speaks during a debate ahead of the Liberal Democratic Party’s (LDP) presidential election at the party’s headquarters in Tokyo, Japan, on Wednesday, Sept. 9, 2020. Suga said an economic revival from the coronavirus pandemic is a greater priority than fiscal health.

(Bloomberg) — Yoshihide Suga, the leading candidate to become Japan’s next leader, said there’s no need to raise the sales tax again in the next decade, aligning himself with outgoing Prime Minister Shinzo Abe.

“Abe once said the sales tax doesn’t need to be raised for about next 10 years. My thinking is the same,” Suga said.

The remarks came after he commented on a TV program Thursday that a further increase in the tax is inevitable in the future given Japan’s aging population.

©2020 Bloomberg L.P.

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