Suga says he sees no sales tax increase in Japan in next 10 years by Bloomberg

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© Bloomberg. Yoshihide Suga, Chief Secretary of the Japanese Cabinet, speaks during a debate ahead of the Liberal Democratic Party (LDP) presidential election at the party’s headquarters in Tokyo, Japan on Wednesday, September 9, 2020. Suga said an economic recovery from the coronavirus pandemic is a higher priority than fiscal health.

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(Bloomberg) – Yoshihide Suga, the top contender to become Japan’s next ruler, has said there is no need to raise sales tax again in the next decade, aligning himself with the Prime outgoing minister Shinzo Abe.

“Abe once said that the sales tax does not need to be increased for about 10 years. My thinking is the same, ”Suga said.

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

© 2020 Bloomberg L.P.

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