TOKYO : Japan’s government is not considering issuing extra bonds to cover a planned increase in defence spending, Finance Minister Shunichi Suzuki said on Friday, pledging to remain fiscally disciplined.
Suzuki told reporters after the cabinet approved the defence build-up plans that the increase in defence budget spending marks a “historic turning point”.
He said just 6 per cent of all Japanese firms will be subjected to planned tax hikes to cover the increased spending, as the government keeps in mind the severe economic situation facing corporations.
Source: Reuters