Prime Minister Yoshihiko Noda on Saturday said the sales tax could be raised higher than the 10 percent rate currently proposed, due to the radical overhaul of the welfare system he is pushing.
"There is a possibility the consumption tax might be increased to more than 10 percent, as a result of implementing drastic reforms of the pension and social security systems," Noda said during a question and answer session after a speech in Tokyo.
He also reiterated his determination to pass legislation during the current ordinary Diet session that would double the 5 percent sales levy, as part of a broader package of reforms to ensure the country's welfare system remains sustainable. (Japan Times)
↧