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Japan’s PM contender Kishida says won’t raise sales tax for a decade By Reuters

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© Reuters. Japan’s former Minister for Foreign Affairs Fumio Kishida, one of the candidates for the presidential election of the ruling Liberal Democratic Party (LPD), speaks during a debate session held by Japan National Press club, in Tokyo, Japan, September 18, 2

TOKYO (Reuters) – Japan will not raise the sales tax for about a decade as imposing a higher levy on households at this time would cripple the pandemic-hit economy, Fumio Kishida, a key contender running in the ruling party leadership race, said on Saturday.

Kishida, along with three others running for the leadership of the Liberal Democratic Party(LDP), stated in a television debate that “we won’t increase the sales tax rate until about a decade.”

Japan should not abandon its fiscal reform pledge, but it must prioritize the relief of the effects of the pandemic, and establish a growth cycle that brings prosperity to wider sectors.

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