- Japan’s Prime Minister Sanae Takaichi pledged to cut the consumption tax on food and beverages from 8% to 1% for two years starting in April.
- The tax cut would be paired with cash assistance for low
- and middle-income households to help offset inflation.
- Takaichi said the government would fund the measure without issuing new deficit-financing bonds, aiming to maintain market confidence.
- She also said the government will prepare a five-year economic action plan by year-end, including support for AI, semiconductors, cyber defense, and other strategic industries.
Source: gulf-times.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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