The government and ruling Democratic Party of Japan officially approved a draft plan Friday for integrated social security and tax system reform, which includes raising the consumption tax rate to 8 percent in April 2014 and 10 percent in October 2015.
Prime Minister Yoshihiko Noda reiterated his intention to submit consumption tax-related bills to the Diet in hopes they will be passed by March.
The DPJ plans to ask opposition parties to join talks on the consumption tax hike on Tuesday at the earliest. However, the Liberal Democratic Party and New Komeito are expected to reject the DPJ's proposal, making it uncertain whether the bills will pass. (Yomiuri)
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